EndowmentsE+W
11E+WWhere 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.
Textual Amendments
F1Words in Act substituted (5.5.2010) by The Local Education Authorities and Children’s Services Authorities (Integration of Functions) Order 2010 (S.I. 2010/1158), art. 1, Sch. 2 para. 10(2) (with Sch. 2 para. 10(4))