Part 2Further education bodies: insolvency etc
CHAPTER 4Further education bodies: special administration
Financial support for bodies in education administration
30Guarantees where education administration order is made
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.