[F1(1)[F2The Welsh Ministers] may by order designate [F3for the purposes of this section] —
(a)any institution [F4in Wales] which appears to [F5them] to fall within subsection (2) below; and
(b)any institution [F6in Wales] which is, or is to be, conducted by a successor company to a higher education corporation.
(2)An institution falls within this subsection if its full-time equivalent enrolment number for courses of higher education exceeds 55 per cent. of its total full-time equivalent enrolment number.]
F7(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F7(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)For the purposes of subsection (1)(b) above, a company is a successor company to a higher education corporation if-
(a)it is a company limited by a guarantee formed and registered under [F8the Companies Act 2006];
(b)at the time when it was formed the persons participating in its formation were all members of a higher education corporation and constituted a majority of the members of that corporation;
(c)its objects—
(i)are exclusively charitable according to the law of England and Wales; and
(ii)include the conduct of the institution which was at that time conducted by that corporation;
(d)its [F9articles of association] have been approved by [F10the Welsh Ministers]; and
(e)an order has been made under section [F11127A or] 128 of this Act dissolving the corporation and transferring the property, rights and liabilities of the corporation to the company (whether or not that order has taken effect before the order under this section is made).
Textual Amendments
F1S. 129(1)(2) substituted (6.5.1992) by Further and Higher Education Act 1992 (c. 13), s. 72(1)(a); S.I. 1992/831, art. 2, Sch. 1
F2Words in s. 129(1) substituted (1.8.2024) by Tertiary Education and Research (Wales) Act 2022 (asc 1), s. 148(2), Sch. 4 para. 5(4)(a)(i) (with s. 19); S.I. 2024/806, art. 2(k)(iii) (with art. 28)
F3Words in s. 129(1) substituted (1.8.2024) by Tertiary Education and Research (Wales) Act 2022 (asc 1), s. 148(2), Sch. 4 para. 5(4)(a)(ii) (with s. 19); S.I. 2024/806, art. 2(k)(iii) (with art. 28)
F4Words in s. 129(1)(a) inserted (1.8.2024) by Tertiary Education and Research (Wales) Act 2022 (asc 1), s. 148(2), Sch. 4 para. 5(4)(a)(iv) (with s. 19); S.I. 2024/806, art. 2(k)(iii) (with art. 28)
F5Word in s. 129(1)(a) substituted (1.8.2024) by Tertiary Education and Research (Wales) Act 2022 (asc 1), s. 148(2), Sch. 4 para. 5(4)(a)(iii) (with s. 19); S.I. 2024/806, art. 2(k)(iii) (with art. 28)
F6Words in s. 129(1)(b) inserted (1.8.2024) by Tertiary Education and Research (Wales) Act 2022 (asc 1), s. 148(2), Sch. 4 para. 5(4)(a)(iv) (with s. 19); S.I. 2024/806, art. 2(k)(iii) (with art. 28)
F7S. 129(3)(4) repealed (6.5.1992) by Further and Higher Education Act 1992 (c. 13), ss. 72(1)(b), 93(2), Sch. 9; S.I. 1992/831, art. 2, Sch. 1
F8Words in s. 129(5)(a) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 96(2)(a) (with art. 10)
F9Words in s. 129(5)(d) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 96(2)(b) (with art. 10)
F10Words in s. 129(5)(d) substituted (1.8.2024) by Tertiary Education and Research (Wales) Act 2022 (asc 1), s. 148(2), Sch. 4 para. 5(4)(b) (with s. 19); S.I. 2024/806, art. 2(k)(iii) (with art. 28)
F11Words in s. 129(5)(e) inserted (1.8.2019) by Higher Education and Research Act 2017 (c. 29), s. 124(5), Sch. 8 para. 18; S.I. 2018/1226, reg. 4(o)
Modifications etc. (not altering text)
C1S. 129 extended (1. 4. 1993) by Further and Higher Education Act 1992 (c. 13), s. 74(2); S.I. 1992/831, art. 2, Sch.3.
