Grants to new governing body
6(1)The funding authority may make grants to the new governing body of a school in respect of expenditure incurred or to be incurred by that body in pursuance of any provision made by or under paragraphs 2 to 5 above in respect of the period beginning with the incorporation date and ending immediately before the date of implementation of the proposals.
(2)The funding authority may impose on a new governing body to whom such a grant is made such requirements as they may from time to time determine (whether before, at or after the time when the grant is made).
(3)Such requirements may, in particular, if any conditions specified in the requirements are satisfied, require the payment to the funding authority of the whole or any part of the following amount.
(4)That amount is—
(a)the amount of the payments made in respect of the grant, or
(b)so much of the value of any premises or equipment in respect of which the grant was paid as is determined in accordance with the requirements to be properly attributable to the payment of such grant,
whichever is the greater.