Part IVU.K. Miscellaneous and General

Establishment and functions of Education Assets BoardE+W

198 Transfers under Parts I and II.E+W

(1)This section applies to any transfer under section 74, 126 or 130 of this Act, and each of those sections is subject to Schedule 10 to this Act.

(2)That Schedule has effect for the purpose of—

(a)dividing and apportioning property, rights and liabilities which fall to be transferred under any transfer to which this section applies where that property has been used or held, or the rights or liabilities have been acquired or incurred, for the purposes of more than one school or other educational institution;

(b)excluding from transfer in certain circumstances property, rights and liabilities which would otherwise fall to be transferred under any such transfer;

(c)providing for identifying and defining the property, rights and liabilities which fall to be so transferred; and

(d)making supplementary and consequential provisions in relation to transfers to which this section applies.

(3)In carrying out the functions conferred or imposed on them by that Schedule, it shall be the duty of the Education Assets Board to secure that each transfer to which this section applies is, so far as practicable, fully effective on the date on which it takes effect under this Act.

(4)Where in accordance with that Schedule anything falls to be or may be done by the Board for the purposes of or in connection with any such transfer—

(a)it may not be done by the transferee; and

(b)in doing it the Board shall be regarded as acting on behalf and in the name of the transferee;

and in a case where the transferee is a body corporate established under this Act paragraph (b) above applies both in relation to things done before and in relation to things done after that body is established under this Act.

(5)Not later than the end of the period of six months beginning with the transfer date applicable in relation to any transfer to a higher education corporation under section 126 of this Act, the Board shall provide [F1the higher education funding council] with a written statement giving such particulars of all property, rights and liabilities transferred to that corporation as are then available to the Board.

(6)If in any case within subsection (5) above full particulars of all property, rights and liabilities transferred to the corporation concerned are not given in the statement required under that subsection, the Board shall provide that Council with a further written statement giving any such particulars omitted from the earlier statement as soon as it is possible for them to do so.

Textual Amendments