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7(1)This paragraph applies if—
(a)publicly funded land is transferred on or after 28 July 2000 from—
(i)a governing body of a school,
(ii)a foundation body of a school, or
(iii)the trustees of a school,
(b)the transfer is made to a person for the purposes of an Academy, and
(c)the first or the second condition set out below is satisfied.
(2)This paragraph also applies if—
(a)publicly funded land has been held for the purposes of a maintained school by the trustees of the school,
(b)the land is held by the trustees for the purposes of an Academy, and
(c)the first or the second condition set out below is satisfied.
(3)The first condition is that—
(a)the school concerned ceases to be an Academy, and
(b)immediately before the school ceases to be an Academy the land is held by a person for the purposes of the Academy.
(4)The second condition is that, although the school concerned continues to be an Academy, the land ceases to be held for the purposes of the Academy.
(5)Sub-paragraph (3) applies whether or not, on the school ceasing to be an Academy, it simultaneously ceases to function as a school.
(6)The Secretary of State may make one or more of the following directions—
(a)a direction that the land or any part of the land be transferred to such local authority as the Secretary of State may specify, subject to the payment by that local authority of such sum by way of consideration (if any) as the Secretary of State determines to be appropriate;
(b)in a case where this paragraph applies by virtue of sub-paragraph (1), a direction that the land or any part of the land be transferred back to the person from whom the transfer mentioned in sub-paragraph (1)(a) was made, subject to the payment of such sum by way of consideration (if any) as the Secretary of State determines to be appropriate;
(c)a direction that the person holding the land pay, either to the Secretary of State or to such local authority as the Secretary of State may specify, the whole or any part of the value, as at the date of the direction, of the whole or any part of the land.
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