Explanatory Note
(This note is not part of the Regulations)
These Regulations amend the School Companies Regulations 2002, which govern the operation of companies formed or joined by governing bodies of maintained schools using their powers under section 11 of the Education Act 2002, and come into force on 1st September 2003.
The Regulations amend regulation 8 by requiring that the constitution of a school company must provide that the terms of service and remuneration of executive directors shall be determined by the directors on the recommendation of the remuneration committee.