Schedules

Schedule 4The Chief Executive of Skills Funding

Supplementary powers

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1

The Chief Executive may do anything that the Chief Executive considers necessary or appropriate for the purposes of, or in connection with, the functions of the office.

2

The power in sub-paragraph (1) is subject to any restrictions imposed by or under any provision of any Act.

3

The Chief Executive may not borrow money.

4

The Chief Executive may not do any of the following without the consent of the Secretary of State—

a

lend money;

b

form, participate in forming or invest in a company;

c

form, participate in forming or otherwise become a member of a charitable incorporated organisation (within the meaning of section 69A of the Charities Act 1993 (c. 10)).

5

In sub-paragraph (4)(b) the reference to investing in a company includes a reference to—

a

becoming a member of the company, and

b

investing in it by the acquisition of any assets, securities or rights or otherwise.