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7.—(1) If the Secretary of State is satisfied that the membership of the foundation body has been properly constituted, that the instrument of government has been adopted and that the schools have or will on entering the group become schools of the category specified in the application then he shall by notice in writing provide that—
(a)the foundation body shall perform the functions conferred on it by these Regulations for the schools in the group as from a date specified by him; and
(b)the schools specified in the application shall on that date form the group for which the foundation body is to act.
(2) If the Secretary of State is not so satisfied within what is, in his opinion, a reasonable time in all the circumstances he may by order dissolve the foundation body on such date as he may specify in the order.
(3) Where any of the schools is entering the group under a different category from its existing category, the date specified in accordance with paragraph (1) of this regulation shall be the date on which it is intended that the change of category should take place in accordance with the Change of Category Regulations.
(4) Subject to paragraph (5), on the date specified in accordance with paragraph (1) above any land, other than land held on trust, which immediately before that date is held by the governing body of any school entering the group for the purposes of that school shall on that date be transferred to, and by virtue of this regulation vest in, the foundation body for the purposes of the schools comprising the group for which that body acts.
(5) Paragraph (4) does not apply in relation to a school where, following approval of proposals published in accordance with the Change of Category Regulations, the school is entering the group in a different category from its existing category.
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