SCHEDULE 6Educational Endowments
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In section 120 (default by governing body)—
(a)
at the beginning there shall be inserted " (1) ";
(b)
after the word " endowment" there shall be inserted the words " to which section 105 of this Act does not extend ";
(c)
after the words " Part of this Act" there shall be inserted the words " prior to the commencement of section 15 of the Education (Scotland) Act 1981 "; and
(d)
“(2)
In relation to any educational endowment to which section 105 of this Act extends, subsection (1) above shall apply—
(a)
with the omission of the words " to which section 105 of this Act does not extend " and the words " prior to the commencement of section 15 of the Education (Scotland) Act 1981 " and
(b)
with the substitution for the words " Secretary of State after such inquiry as he " of the words " education authority having power under section 105 of this Act to prepare a draft scheme for the future government and management of the endowment, after such inquiry as they ".”