SCHEDULES
SCHEDULE 12Related amendments
Education Reform Act 1988 (c. 40)
I122
In paragraph 18 of Schedule 7 (higher education corporations)—
a
omit sub-paragraph (4) (duty of certain higher education corporations to consult Audit Commission before appointing auditor in respect of first financial year),
b
in sub-paragraph (5) for “that sub-paragraph” substitute “
sub-paragraph (3) above
”
, and
c
in sub-paragraph (6) omit the definitions of “the first financial year” and “financial year” and insert—
“financial year” means—
a
the period commencing with the date on which the corporation is established and ending with the second 31st March following that date, and
b
each successive period of twelve months.