# The School Finance (England) Regulations 2006, 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.

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Source: https://www.legislation.gov.uk/ukdsi/2006/0110738985/schedule/3/paragraph/5 (the official version)
Page: https://openlegislation.uk/draft-school-finance-england-regulations-2006/schedule-3/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.