You can produce study packs using material already covered by the CLA licence.
Please see copying books and journals for class purposes for restrictions on the amount to be copied.
Production costs only can be charged and no profit can be made from the sale of study packs
The CLA would consider "compilations consisting of a series of chapters from ‘core’ student textbooks" to be in breach of the spirit of the licence.
The CLA and Universities UK have produced joint guidance for course packs.
The CLA Higher Education Copyright Licence Good Practice Guide in the creation of course packs