5.—(1) Sub-paragraph (2) applies where—
(a)any proposals that a community school should become a voluntary controlled school have been approved under paragraph 8 of modified Schedule 6 to the Act; and
(b)as from the implementation date the school (as a voluntary controlled school) will not be a member of a group for which a foundation body acts.
(2) Where this sub-paragraph applies, any land other than playing fields which, immediately before the implementation date, was held or used by a local authority for the purposes of the community school shall on that date be transferred to, and by virtue of this paragraph vest in, the trustees of the school, to be held by them on trust for the purposes of the school.
(3) Sub-paragraph (4) applies where—
(a)any proposals that a community school should become a voluntary controlled school have been approved under paragraph 8 of modified Schedule 6 to the Act; and
(b)as from the implementation date the school (as a voluntary controlled school) will be a member of the group for which a foundation body acts.
(4) Where this sub-paragraph applies, any land other than playing fields or land held on trust which, immediately before the implementation date, was held or used by a local authority for the purposes of the community school shall on that date be transferred to, and by virtue of this paragraph vest in, the foundation body.