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3.—(1) This paragraph applies where—
(a)any proposals that a community school should become a foundation school have been approved under paragraph 3 of the modified Schedule 6 to the Act or a local education authority have determined under paragraph 4 to the modified Schedule 6 to the Act to implement any such proposals; and
(b)as from the implementation date the school (as a foundation school) will be a member of a group for which a foundation body acts.
(2) In such a case, any land, other than land held on trust, which, immediately before the implemention date, was held or used by a local authority for the purposes of the community school shall on that date be transferred to, and by virtue of this paragraph vest in, the foundation body.
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