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Skills and Post-16 Education Act 2022

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Changes over time for: Section 25

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Changes to legislation:

Skills and Post-16 Education Act 2022, Section 25 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

25Further education bodies in education administration: transfer schemesE+W

This section has no associated Explanatory Notes

(1)The Technical and Further Education Act 2017 is amended as follows.

(2)In Schedule 2 (education administration: transfer schemes), after paragraph 6 insert—

6A(1)A transfer scheme may not transfer property which is subject to a security (other than a floating charge) free of that security except—

(a)in accordance with an order of the court under paragraph 71 of Schedule B1 to the Insolvency Act 1986 as applied by Schedule 3 or 4, or

(b)where—

(i)an amount is attributed to the transfer of the property in the transfer scheme,

(ii)the secured creditor agrees with that amount, and

(iii)the secured creditor is paid that amount.

(2)In sub-paragraph (1), “floating charge” means a charge which is a floating charge on its creation.

(3)In Schedule 3 (conduct of education administration: statutory corporations), in paragraph 19—

(a)for “sub-paragraph (1),” substitute sub-paragraph (1)—

(a)after “dispose” there were inserted “(whether by way of a transfer scheme under Schedule 2 to the Technical and Further Education Act 2017 or otherwise)”, and;

(b)the text from “the words” to the end of the paragraph becomes paragraph (b).

(4)In Schedule 4 (conduct of education administration: companies), after paragraph 17 insert—

17AParagraph 71 is to have effect as if in sub-paragraph (1), after “dispose” there were inserted “(whether by way of a transfer scheme under Schedule 2 to the Technical and Further Education Act 2017 or otherwise)”.

Commencement Information

I1S. 25 in force at 28.6.2022, see s. 36(2)

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