This regulation applies in the case of a school which becomes a grant-maintained school after 1st April in the financial year in question, other than a school which does so pursuant to proposals published under section 49 of the 1993 Act (where regulation 19 applies).

In any case to which this regulation applies the funding authority shall determine an amount in accordance with paragraph (3).

The funding authority shall determine an amount which appears to them to be equal or approximate to that amount of the school’s budget share for the financial year in question in respect of which, immediately before the school became grant-maintained, sums had neither been deducted by the maintaining local education authority in accordance with their scheme nor made available pursuant to section 36(2) and (3)17 of the 1988 Act, or, if made available, had not been spent by the governing body of the school in exercise of their powers under section 36(5) of the 1988 Act.