SCHEDULE 8 The Funding Councils and the [Transfer Council]
Education Reform Act 1988 (1988 c 40) | Legislation

SCHEDULE 8 The Funding Councils and the [Transfer Council]

Sections 134, 197

Preliminary

1

References below in this Schedule to the Corporation are references to each of the following bodies—

(a)ÌýÌýÌýÌý the Universities Funding Council;

(b)ÌýÌýÌýÌý the Polytechnics and Colleges Funding Council; and

(c)ÌýÌýÌýÌý the [Education Transfer Council].

Supplementary powers

2

(1)ÌýÌýÌýÌý Subject to sub-paragraph (2) below, the Corporation shall have power to do anything which appears to them to be necessary or expedient for the purpose of or in connection with the discharge of their functions, including in particular power—

(a)ÌýÌýÌýÌý to acquire and dispose of land and other property;

(b)ÌýÌýÌýÌý to enter into contracts;

(c)ÌýÌýÌýÌý to invest any sums not immediately required for the purpose of the discharge of their functions; and

(d)ÌýÌýÌýÌý to accept gifts of money, land or other property.

(2)ÌýÌýÌýÌý Sub-paragraph (1) above does not confer power to borrow money, except in the case of the [Education Transfer Council]; but the power of that [Council] to borrow money shall be subject to the approval of the Secretary of State in the case of each

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