SCHEDULES

SCHEDULE 3 Funding of foundation, voluntary and foundation special schools

Part III Foundation, voluntary and foundation special schools: common provisions

Endowments

11

Where any sums accruing in respect of the income of an endowment are required by virtue of the provisions of a trust deed to be applied towards the maintenance of a foundation, voluntary or foundation special school, those sums shall not be payable to the local education authority but shall be applied by the governing body of the school—

a

(in the case of a voluntary aided school) towards the discharge of their obligations under paragraph 3, or

b

(in the case of any school) in such manner, if any, as may be determined by a scheme for the administration of the endowment made after 1st April 1945.