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Further and Higher Education Act 1992

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Changes over time for: Section 38

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Version Superseded: 01/04/2012

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Point in time view as at 20/08/2010. This version of this provision has been superseded. Help about Status

Changes to legislation:

Further and Higher Education Act 1992, Section 38 is up to date with all changes known to be in force on or before 26 November 2024. 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

38 Payments F1... in respect of loan liabilities.E+W

(1)This section applies to any excepted loan liability, that is, any liability of a local authority which—

(a)in the case of a transfer by virtue of section 23 of this Act, would have been transferred but for subsection (3)(a) of that section,

(b)in the case of a transfer by virtue of section 32 of this Act, would have been transferred but for subsection (4)(a) of that section, or

(c)in the case of a transfer by virtue of section 34(4)(a) of this Act, could have been transferred but for subsection (5) of that section.

(2)[F2The [F3YPLA or the Chief Executive of Skills Funding]] may make payments, on such terms and conditions as the [F4YPLA or the Chief Executive] may determine, to a local authority in respect of the principal of, and any interest on, any excepted loan liability of that authority.

(3)No payment shall be made under this section in respect of any excepted loan liability, where the class or classes of excepted loan liabilities in respect of which payments may be made are for the time being prescribed by an order of the Secretary of State, unless the liability falls within a prescribed class.

(4)The Secretary of State may by order provide for determining—

(a)the amounts that may be paid under this section in respect of the principal of, and any interest on, any excepted loan liability,

(b)the instalments by which any amounts may be paid, and

(c)the rate at which interest may be paid on any outstanding amounts,

and, in the case of any payment to which such an order applies, no amount may be paid under this section in excess of any amount determined in accordance with the order.

[F5(5)In this section “local authority” includes a non-metropolitan district council for an area for which there is a country council.]

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