(1) A provider or registered provider is an exempt provider if:
(a) the provider is administered by a State education authority; or
(b) the provider:
(i) is entitled to receive funds under a law of the Commonwealth for recurrent expenditure for the provision of education or training; and
(ii) is not a provider prescribed by the regulations for the purposes of this subparagraph; or
(c) the provider is specified in the regulations.
(2) To avoid doubt, a private corporate body established in connection with a provider covered by paragraph (1)(a) or (b) is not itself, by virtue of that connection alone, a provider covered by that paragraph.