(1)Payments under an Academy agreement may be in respect of capital or current expenditure.
(2)So far as payments under an Academy agreement relate to current expenditure, the agreement must provide for them to continue (subject to other requirements of the agreement being fulfilled)—
(a)for at least 7 years, or
(b)indefinitely, but terminable by the Secretary of State giving at least 7 years' written notice.
(3)If an Academy agreement makes provision for payments in respect of capital expenditure, the agreement may provide for the repayment to the Secretary of State, in circumstances specified in the agreement, of sums determined in accordance with the agreement.
(4)An Academy agreement may provide for indemnifying a person, in the event of the Secretary of State terminating the agreement, for expenditure—
(a)incurred by the person in carrying out the undertakings under the agreement, or
(b)incurred by the person (otherwise than by virtue of subsection (3)) in consequence of the termination of the agreement.
F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)Where a local authority fails to secure satisfactory provision for pupils with low incidence special educational needs or disabilities, the Secretary of State may make alternative arrangements.
Textual Amendments
F1S. 2(5) omitted (1.2.2012) by virtue of Education Act 2011 (c. 21), s. 82(3), Sch. 15 para. 3; S.I. 2012/84, art. 3
Commencement Information
I1S. 2(1)-(4) in force at 29.7.2010 by S.I. 2010/1937, art. 2, Sch. 1
I2S. 2(5)(6) in force at 1.9.2010 by S.I. 2010/1937, art. 3, Sch. 2