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19(1)The Secretary of State must pay HEE for each financial year sums not exceeding the amount the Secretary of State has allotted for that year towards meeting the expenditure that is attributable to HEE’s exercise of its functions in that year.
(2)An amount is to be regarded as allotted when the Secretary of State notifies HEE accordingly.
(3)The Secretary of State may make a new allotment under this paragraph increasing or decreasing the allotment previously made, but only if—
(a)HEE agrees,
(b)a parliamentary general election takes place, or
(c)the Secretary of State considers that exceptional circumstances make a new allotment necessary.
(4)The Secretary of State may give directions to HEE about the payment by it to the Secretary of State of sums in respect of charges or other amounts relating to the valuation or disposal of assets.
(5)Sums payable to HEE under this paragraph are payable subject to such conditions as to records, certificates or otherwise as the Secretary of State may decide.
(6)In this Part of this Schedule, “financial year” includes the period—
(a)beginning with the day on which HEE is established, and
(b)ending with the following 31 March or, if the period ending with that date is 3 months or less, ending with the 31 March following that date.
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