OpenLegislation

Article 9 School and college cash, funds and accounts

Original text. Later amendments are not shown.

(1)

This article applies to–

(a)

all cash held at any school maintained by ILEA immediately before 1st April 1990, and the balances of any funds or accounts held or managed in the name of and for the benefit of any such school;

(b)

all cash held at any institution of further or higher education maintained by ILEA immediately before 1st April 1990 and the balances of any funds and accounts held or managed in the name of or for the benefit of any such institution; and

(c)

all cash held at any of the establishments specified in column 1 of Schedule 5 and to the balance of any funds or accounts held or managed in the name of and for the benefit of any such establishment.

(2)

The interests of ILEA in any cash and the balance of any fund or account to which this article applies, together with all sums properly chargeable to or payable from any such account or fund and the rights and liabilities of ILEA in respect thereof, shall vest in the inner London council designated in relation to the school by an order made under section 166 of the Act, in the local education authority responsible for the maintenance of the institution of further or higher education to which any such cash or balance relates, or in the transferee authority specified in column 2 of Schedule 5, as the case may be.

(3)

Nothing in this article shall apply to cash held at or any funds or accounts held or managed in the name of or for the benefit of–

  • The London College of Furniture,

    41–47 Commercial Road, E1 1LA and Farrance Street, E14 in the London Borough of Tower Hamlets;

  • Cardinal Vaughan School,

    89 Addison Road, W14 8BZ in the London Borough of Kensington and Chelsea; and

  • The London Nautical School,

    61 Stamford Street, SE1 in the London Borough of Southwark.