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The School Organisation (Removal of Foundation, Reduction in Number of Foundation Governors and Ability of Foundation to Pay Debts) (England) Regulations 2007

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8.—(1) Without prejudice to the generality of paragraphs 6 and 7, any transaction effected between the trustees and a governing body in pursuance of paragraph 2(1) or of a determination under regulation 6 is to be binding on all other persons, even though it would, apart from this sub-paragraph, have required the consent or concurrence of any person other than the trustees and governing body.

(2) If as a result of any such transaction any person’s rights or liabilities become enforceable as to part by or against the trustees and as to part by or against the governing body, the adjudicator must give that person written notification of that fact.

(3) If in consequence of a transfer to which this Schedule applies or of anything done in pursuance of the provisions of this Schedule—

(a)the rights or liabilities of any person other than the trustees or the governing body which were enforceable against or by the trustees become enforceable as to part against or by the trustees and as to part against or by the governing body, and

(b)the value of any property or interest of that person is thereby diminished

such compensation as may be just must be paid to that person by the trustees, the governing body or both.

(4) Any dispute as to whether and if so how much compensation is payable under sub-paragraph (3), or as to the person by whom or to whom it must be paid, must be referred to and determined by the adjudicator.

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