# The Academy Conversions (Transfer of School Surpluses) Regulations 2013, Regulation 8: Payment of school surplus


(1) Subject to paragraph (2), the local authority must pay to the proprietor the amount of any surplus determined under section 7(2) of the Act within one month, beginning with the earlier of the following dates—
(a) the date on which the proprietor notifies the local authority that the proprietor agrees with its determination; or
(b) the date on which the period specified in regulation 7(1) (period within which proprietor may apply for review) ends.
(2) Where the Secretary of State reviews a determination of the local authority under regulation 7(7)(a), the local authority must—
(a) in circumstances where the local authority has made no payments to the proprietor in respect of the surplus, pay to the proprietor the amount of any surplus confirmed or determined by the Secretary of State under regulation 7(7)(b) within one month, beginning with the date on which the local authority is notified of the outcome of the review under regulation 7(7)(c); or
(b) in circumstances where the local authority has already paid an amount to the proprietor in respect of the surplus, pay such further amounts to the proprietor in accordance with the amount of any surplus confirmed or determined by the Secretary of State under regulation 7(7)(b) within one month, beginning with the date on which the local authority is notified of the outcome of the review under regulation 7(7)(c).

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Source: https://www.legislation.gov.uk/uksi/2013/3037/regulation/8 (the official version)
Page: https://openlegislation.uk/academy-conversions-transfer-of-school-surpluses-regulations-2013/regulation-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.