Regulation 31 Late supply of budget statements.
Notwithstanding the provisions of regulation 5, the funding authority may—
in the case of a school which is situated in the area of a local education authority (`the transferee authority') which, by or in consequence only of a structural or a boundary change (or both such changes) within the meaning of section 14 of the Local Government Act 1992, effected by an order made under section 17 of that Act, is not the local education authority which maintained it in the preceding financial year; and
that transferee authority has not supplied a copy of the statement referred to in section 42(3) of the 1988 Act (`the budget statement') to the funding authority by 1st April 1996,
then the funding authority shall, subject to paragraph (2), determine as the amount of maintenance grant payable for the financial year in question in respect of such school such amount as appears to them to be fair and reasonable in all the circumstances.
If the budget statement is supplied to the funding authority by 1st May 1996 then the funding authority shall redetermine the amount of maintenance grant payable in respect of the school for that year in accordance with these Regulations (other than in accordance with paragraph (1) above) and, if the amount so redetermined is different from the amount previously determined, revise their determination accordingly (whether or not this reduces the amount of maintenance grant payable in respect of the school concerned for the financial year in question).