(1) The scholarships shall be of such annual value as may by notice be determined by the Cabinet and shall be tenable for not less than 3 and not more than 7 years, according to the time required for the completion of the approved course of study.
(2) A notice under subsection (1) may specify differential rates of allowances varying according to the country or the educational institution at which the scholarship is tenable. However, the rates so fixed shall apply equally to every holder of an award who falls within a particular category.