Part I

Further education
Chapter II

Institutions within the further education sector

Dissolution of further education corporations

Dissolution of further education corporations: transfer of property, rights and liabilities
27B
1
At any time before the dissolution date, the corporation may transfer any of their property, rights or liabilities to such person or body, or a person or body of such description, as may be prescribed by regulations made by the appropriate authority.
2
The corporation may do so only with the consent of the person or body concerned.
3
A transfer under subsection (1) has effect on the dissolution date.
4
Subsection (5) applies if a person or body prescribed, or of a description prescribed, under subsection (1) is not a charity established for charitable purposes which are exclusively educational purposes.
5
Any property transferred to the person or body must be transferred on trust to be used for charitable purposes which are exclusively educational purposes.
6
In this section, “
the appropriate authority
” has the meaning given in section 27.
Ss. 27-27B substituted for ss. 27-27C (1.8.2014 for specified purposes; 1.9.2014 in force in so far as not already in force) by Further and Higher Education (Governance and Information) (Wales) Act 2014 (anaw 1), ss. 3, 11(2); S.I. 2014/1706, art. 2, art. 3(c)