39.—(1) This Article applies where, at any time after it comes into operation—
(a)any premises (“the relevant premises”) of a voluntary school—
(i)cease to be used for approved purposes of the school; and
(ii)are disposed of by the trustees of the school; and
(b)no provision is made by any trust deed executed in relation to the relevant premises for the application of the residual proceeds of the disposal of those premises.
(2) Where this Article applies, any trust deed executed in relation to the relevant premises shall have effect as if it authorised the trustees of the school to apply any residual proceeds of the disposal of the relevant premises for general educational purposes.
(3) In the case of the trustees of a Catholic maintained school, the reference in paragraph (2) to general educational purposes shall be construed as a reference to general educational purposes in the Roman Catholic diocese in which the school is situated.
(4) In paragraph (2) “residual proceeds of the disposal of the relevant premises” means the amount of the proceeds of the disposal of the relevant premises less the amount of any liabilities or expenses of the trustees arising in respect of, or in connection with, the relevant premises or the disposal thereof, including in particular (but without prejudice to the generality of the foregoing)—
(a)the amount of any expenses of the trustees in respect of the disposal; and
(b)any amounts payable or repayable to the Department under Article 116 of the 1986 Order in consequence of the disposal of the relevant premises.
(5) This Article applies to a trust deed whether executed before or after the coming into operation of this Article.