SCHEDULES

SCHEDULE 3 Funding of foundation, voluntary and foundation special schools

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

Endowments

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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 F1local 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.