134Disposal of premises provided, etc. by the funding authority
(1)Where the governing body of a grant-maintained school apply to the Secretary of State for his consent to the disposal of—
(a)any premises provided by the funding authority, or
(b)any premises acquired wholly or partly with the proceeds of the disposal of any premises so provided or of any premises so acquired,
the Secretary of State may require the governing body when the premises are disposed of to pay to him or to the funding authority the whole or any part of the proceeds of disposal.
(2)Where—
(a)any premises falling within subsection (1)(a) or (b) above are transferred by the governing body to be held on trust by the trustees of the school, or
(b)any premises in respect of which capital grant was paid are transferred by the governing body (otherwise than in pursuance of a requirement imposed in accordance with section 130 of this Act or in pursuance of section 131(3) of this Act) to be held on trust by the trustees of the school,
then, if at any time the trustees dispose of the premises, the Secretary of State may require them to pay to him or to the funding authority the whole or any part of the proceeds of the disposal.