4(1)This paragraph applies where a grant-maintained school (an “existing school”) becomes a community school.E+W
(2)In such a case—
(a)any publicly funded land shall on the appointed day be transferred to, and by virtue of this Act vest in, the local education authority;
(b)any other land which, immediately before that day, is held by the governing body for the purposes of the existing school shall be transferred to, and vest in, the authority in accordance with a transfer agreement; and
(c)any land which, immediately before that day, is held by any trustees for the purposes of the existing school shall be transferred to, and vest in, the authority in accordance with a transfer agreement.
(3)In this paragraph “publicly funded land” means land which—
(a)immediately before the appointed day is held by the governing body for the purposes of the existing school, and
(b)was acquired from a local authority under a transfer under section 201(1)(a) of the M1Education Act 1996 or from the Funding Agency for Schools or was acquired wholly by means of any maintenance, special purpose or capital grant (within the meaning of Chapter VI of Part III of that Act).
(4)In this paragraph “transfer agreement” means an agreement—
(a)made for the purposes of sub-paragraph (2) between the local education authority and the governing body or (as the case may be) trustees mentioned in that sub-paragraph, and
(b)providing for the land in question to be transferred to, and vest in, the authority on the appointed day, whether or not in consideration of the payment by the authority of such amount as may be agreed between the parties.
Marginal Citations