- Latest available (Revised)
- Point in Time (16/08/2017)
- Original (As enacted)
No versions valid at: 16/08/2017
Point in time view as at 16/08/2017. This version of this cross heading contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the Technical and Further Education Act 2017, Cross Heading: Financial support for bodies in education administration.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Valid from 31/01/2019
(1)If an education administration order has been made in relation to a further education body, the appropriate national authority may make grants or loans to the body for the purpose of achieving the objective of the education administration.
(2)A grant or loan under this section may be made on whatever terms the appropriate national authority considers appropriate (including terms relating to repayment of the grant or loan, with or without interest).
(3)In the case of a loan, the terms must provide for paragraph 99(7)(a), (b) or (c) of Schedule B1 to the Insolvency Act 1986 (vacation of office: charges and liabilities) to apply in relation to any sum that must be paid by the further education body in respect of the loan or interest on it.
(4)In subsection (3) the reference to paragraph 99 of Schedule B1 to the Insolvency Act 1986 is to that Schedule as applied by Schedule 3 or 4 to this Act.
(1)If an education administration order has been made in relation to a further education body, the appropriate national authority may agree to indemnify persons in respect of one or both of the following—
(a)liabilities incurred in connection with the carrying out of functions by the education administrator, and
(b)loss or damage sustained in that connection.
(2)The agreement may be made in whatever manner, and on whatever terms, the appropriate national authority considers appropriate.
(3)As soon as possible after agreeing to indemnify persons under this section, the appropriate national authority must lay a statement of the agreement before Parliament or the National Assembly for Wales (as appropriate).
(4)For repayment of sums paid by the appropriate national authority in consequence of an indemnity agreed to under this section, see section 29.
(5)The power of the appropriate national authority to agree to indemnify persons—
(a)is confined to a power to agree to indemnify persons in respect of liabilities, loss and damage incurred or sustained by them as relevant persons, but
(b)includes power to agree to indemnify persons (whether or not they are identified or identifiable at the time of the agreement) who subsequently become relevant persons.
(6)The following are relevant persons for the purposes of this section—
(a)the education administrator;
(b)an employee of the education administrator;
(c)a partner or employee of a firm of which the education administrator is a partner or employee;
(d)a partner of a firm of which the education administrator was an employee or partner at a time when the order was in force;
(e)a body corporate which is the employer of the education administrator;
(f)an officer, employee or member of such a body corporate;
(g)a Scottish firm which is the employer of the education administrator or of which the education administrator is a partner.
(7)For the purposes of subsection (6)—
(a)references to the education administrator are to be read, where two or more persons are appointed as the education administrator, as references to any one or more of them, and
(b)references to a firm of which a person was a partner or employee at a particular time include a firm which holds itself out to be the successor of a firm of which the person was a partner or employee at that time.
(1)This section applies where a sum is paid out by the appropriate national authority in consequence of an indemnity agreed to under section 28 in relation to the education administration of a further education body.
(2)The further education body must pay the appropriate national authority—
(a)any amounts in or towards the repayment of that sum that the appropriate national authority directs, and
(b)interest on amounts outstanding under this subsection at whatever rates the appropriate national authority directs.
(3)The payments must be made by the further education body at times, and in a manner, determined by the appropriate national authority
(4)Subsection (2) does not apply in the case of a sum paid by the appropriate national authority for indemnifying a person in respect of a liability to the further education body.
(5)The appropriate national authority must lay before Parliament or the National Assembly for Wales (as appropriate) a statement relating to the sum paid out in consequence of the indemnity—
(a)as soon as possible after the end of the financial year in which the sum is paid out, and
(b)if subsection (2) applies to the sum, as soon as possible after the end of each subsequent financial year in relation to which the repayment condition has not been met.
(6)The repayment condition is met in relation to a financial year if—
(a)the whole of the sum has been repaid to the appropriate national authority before the beginning of the year, and
(b)the further education body was not at any time during the year liable to pay interest on amounts that became due in respect of the sum.
(1)If an education administration order has been made in relation to a further education body the appropriate national authority may guarantee—
(a)the repayment of any sum borrowed by the body while that order is in force,
(b)the payment of interest on any sum borrowed by the body while that order is in force, and
(c)the discharge of any other financial obligation of the body in connection with the borrowing of any sum while that order is in force.
(2)The appropriate national authority may give the guarantees in whatever manner, and on whatever terms, the appropriate national authority considers appropriate.
(3)As soon as possible after giving a guarantee under this section, the appropriate national authority must lay a statement of the guarantee before Parliament or the National Assembly for Wales (as appropriate).
(4)For repayment of sums paid by the appropriate national authority under a guarantee given under this section, see section 31.
(1)This section applies where a sum is paid out by the appropriate national authority under a guarantee given by the appropriate national authority under section 30 in relation to a further education body.
(2)The further education body must pay the appropriate national authority—
(a)any amounts in or towards the repayment of that sum that the appropriate national authority directs, and
(b)interest on amounts outstanding under this subsection at whatever rates the appropriate national authority directs.
(3)The payments must be made by the further education body at times, and in a manner, determined by the appropriate national authority.
(4)The appropriate national authority must lay before Parliament or the National Assembly for Wales (as appropriate) a statement relating to the sum paid out under the guarantee—
(a)as soon as possible after the end of the financial year in which the sum is paid out, and
(b)as soon as possible after the end of each subsequent financial year in relation to which the repayment condition has not been met.
(5)The repayment condition is met in relation to a financial year if—
(a)the whole of the sum has been repaid to the appropriate national authority before the beginning of the year, and
(b)the further education body was not at any time during the year liable to pay interest on amounts that became due in respect of the sum.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: