This Statutory Instrument has been made in consequence of an error in S.I. 1989/370 and is being issued free of charge to all known recipients of that Statutory Instrument.

1989 No. 1288

EDUCATION, ENGLAND AND WALES

The Education (Pre-Scheme Financial Statements) (Amendment) Regulations 1989

Made

Laid before Parliament

Coming into force

In exercise of the powers conferred on the Secretary of State by section 50(5) to (7) of the Education Reform Act 19881, the Secretary of State for Education and Science, as respects England, and the Secretary of State for Wales, as respects Wales, hereby make the following Regulations:

1

These Regulations may be cited as the Education (Pre-Scheme Financial Statements) (Amendment) Regulations 1989 and shall come into force on 18th August 1989.

2

In these Regulations a reference to “the principal Regulations” is a reference to the Education (Pre-Scheme Financial Statements) Regulations 19892.

3

1

For paragraph (c) of regulation 3 of the principal Regulations, there shall be substituted the following—

c

all other expenditure (other than expenditure of a capital nature or expenditure in respect of the repayment of the principal of, the payment of interest on and the discharge of any other financial obligation in connection with any loan raised to meet expenditure of a capital nature) treated by the authority as not forming part of the direct costs of relevant schools

2

For paragraph (2)(a) of regulation 4 of the principal Regulations there shall be substituted the following—

a

the amount attributable to—

i

expenditure of a capital nature; and

ii

expenditure in respect of the repayment of the principal of, the payment of the interest on and the discharge of any other financial obligation in connection with any loan raised to meet expenditure of a capital nature; and

3

In regulation 4(3) of the principal Regulations, after the word “particulars”, there shall be inserted the following—

  • (in so far as they relate to the financial provision initially planned by the authority in respect of the financial year to which the statement relates for the schools required to be covered by the statement)

Kenneth BakerSecretary of State for Education and Science
Peter WalkerSecretary of State for Wales

(This note is not part of the Regulations)

These Regulations correct an error in two provisions of the Education (Pre-scheme Financial Statements) Regulations 1989 (S.I. 1989/370) by inserting references to interest on, and other financial obligations in respect of, loans raised to meet expenditure of a capital nature. The opportunity is also taken to clarify a reference in regulation 4(3) of those Regulations.