Formerly specified educational institutions: transitional and transitory provisions and savings
12.—(1) Subsections (1) and (2) of section 46 of the 1993 Act continue to apply to a formerly specified educational institution in relation to—
(a)any relevant financial year; and
(b)the books of accounts kept and statements of account prepared in respect of—
(i)any such financial year; or
(ii)any financial year of the institution which ended before 31st January 2009.
(2) In this article, “relevant financial year” means, in relation to a formerly specified educational institution, a financial year—
(a)which began before 31st January 2009; but
(b)ends on or after that date.