The Foundation Body Regulations 1999

Additional powers

20.—(1) Foundation bodies may in connection with their functions–

(a) borrow such sums as the foundation body thinks fit and in connection with such borrowing, grant any mortgage, charge or other security over any land or other property of the foundation body;

(b) accept gifts of money, land or other property, and apply it or hold it on trust for the purposes of the schools in the group;

(c) engage in fund raising so far as is compatible with their charitable status;

(d) acquire and dispose of any land or property;

(e) enter into contracts including contracts of employment;

(f) make standing orders for the management of the foundation body and any committees and for the conduct of their business;

(g) appoint committees;

(h) delegate the exercise of any powers to individual members or to committees, except those relating to the appointment of foundation governors, the granting of any security or the disposal of any land; and

(i) employ such staff (who cannot be members) as are necessary and to make all necessary provisions for those staff.

(2) The power to borrow sums and grant security or to dispose of any land mentioned above may only be exercised with the written consent of the Secretary of State.