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2(1)A commencement order may provide for any functions conferred on the Secretary of State by or under the old grants code or the transitory grants code for Wales, so far as relating to any amounts which—
(a)fall, or may fall, to be paid in a financial year for which section 81 of this Act has effect or, as the case may be, after the commencement of section 82 or 83 of this Act, or
(b)have been paid by the Secretary of State,
in respect of any grant under that code, to be exercisable instead by the funding authority.
(2)The order may provide for functions exercisable by the funding authority by virtue of sub-paragraph (1) above to be exercised in accordance with the order.
(3)In this paragraph—
“commencement order” means, in relation to England, an order under section 308 of this Act and, in relation to Wales, an order under section 4 of this Act,
“the old grants code” means sections 79 and 80 of the Education Reform Act 1988 as they apply in relation to England, and
“the transitory grants code for Wales” means sections 86 to 91 of this Act.