Paragraph 5
Where any maintained school in the authority’s area is due to be discontinued and re-open as an Academy in funding period 2 an amount equal to J x (K/12) must be deducted from H, where—
(a)
J is the number of months during funding period 2 in which the school is not to be maintained by the authority; and
(b)
K is the total budget share of that school for funding period 1.