20(1)HEE must ensure that total expenditure attributable to its exercise of its functions in each financial year (its “total spending”) does not exceed the aggregate of—E+W
(a)the amount allotted to it for that year under paragraph 19,
(b)the income generated in that year from carrying out activities for the purposes of or in connection with the exercise of its functions, and
(c)any other sums received by it in that year for the purpose of enabling it to meet such expenditure.
(2)The Secretary of State may direct that spending of a specified description is, or is not, to be treated for the purposes of sub-paragraph (1) as part of HEE's total spending.
(3)The Secretary of State may by directions determine—
(a)the extent to which, and circumstances in which, sums received by HEE under paragraph 19 but not yet spent are to be treated for the purposes of sub-paragraph (1) as part of HEE's total spending, and
(b)to which financial year those sums are to be attributed.
(4)The Secretary of State may direct HEE to use specified banking facilities for specified purposes.
Commencement Information
I1Sch. 5 para. 20 in force at 1.4.2015 by S.I. 2014/3186, art. 2(f)