Agreements concerning functional work
8.—(1) Where, immediately before the transfer date, arrangements exist for the carrying out by a board of functional work for the purposes of an institution of further education in pursuance of a bid prepared under Article 7 of the Education and Libraries (Northern Ireland) Order 1993, those arrangements shall have effect as from that date as if—
(a)they were contained in an agreement made between the board and the new governing body on the terms specified in the bid; and
(b)the agreement required the new governing body or (as the case may be) the board to make payments corresponding to the provision made in the bid in pursuance of Article 7(3) of that Order for items to be credited or (as the case may be) debited to any account.
(2) In sub-paragraph (1) “functional work” has the same meaning as in Part II of the Education and Libraries (Northern Ireland) Order 1993.
(3) This Schedule shall have effect as if the rights and liabilities of the new governing body under the agreement mentioned in sub-paragraph (1) were rights and liabilities of the board transferred to the new governing body under paragraph 2.