(1)The Secretary of State may enter into an agreement with any person under which—
(a)that person undertakes to establish and maintain, and to carry on or provide for the carrying on of, an independent school with such characteristics as are specified in the agreement and in subsection (2), and
(b)the Secretary of State agrees to make payments to that person in consideration of those undertakings.
(2)The characteristics mentioned above are that the school—
(a)is situated in an urban area,
(b)provides education for pupils of different abilities who have attained the age of 11 and who are wholly or mainly drawn from the area in which the school is situated, and
(c)has a broad curriculum with an emphasis either on science and technology or on technology in its application to the performing and creative arts.
(3)A school to which an agreement under this section relates shall be known—
(a)as a city technology college, if the emphasis of its curriculum is on science and technology, or
(b)as a city college for the technology of the arts, if the emphasis of its curriculum is on technology in its application to the performing and creative arts.
(4)An agreement under this section shall make any payments by the Secretary of State dependent on the fulfilment of—
(a)conditions and requirements imposed for the purpose of securing that no charge is made in respect of admission to the school or, subject to such exceptions as may be specified in the agreement, in respect of education provided at the school, and
(b)such other conditions and requirements in relation to the school as are specified in the agreement.
(5)Any requirements having effect in relation to the school by virtue of section 218(2B) of the [1988 c. 40.] Education Reform Act 1988 (requirements as to the training and teaching experience of teachers at city colleges who seek to become qualified teachers) shall have effect for the purposes of this section and section 483 as requirements falling within subsection (4).