Part II GRANT-MAINTAINED SCHOOLS
Chapter VIII DISCONTINUANCE OF GRANT-MAINTAINED SCHOOLS
Winding up and disposal of property
113 Grants to governing body in liquidation.
(1)
The funding authority may make grants to a governing body in liquidation for the purpose of—
(a)
discharging any liabilities of that governing body (other than section 105 loan liabilities), and
(b)
meeting any costs incurred by that governing body for the purposes of the winding up in pursuance of an order under section 111 of this Act.
(2)
The funding authority may impose on a governing body to whom such a payment is made such requirements as they may from time to time determine (whether before, at or after the time when the payment in question is made).