7 Transfer of school surpluses
Academies Act 2010 (2010 c 32) | Legislation

7  Transfer of school surpluses

(1)     This section applies if—

(a)     an Academy order has effect in respect of a school,

(b)     the order was made following an application under section 3, and

(c)     the school is to be converted into an Academy.

(2)     The local authority must determine—

(a)     whether, immediately before the conversion date, the school has a surplus, and

(b)     if so, the amount of the surplus.

(3)     The local authority must pay any amount determined under subsection (2)(b) to the proprietor of the Academy, subject to the provisions of regulations under subsection (4).

(4)

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