Article 2 Interpretation

In this Order—

• “the 1988 Act” means the Education Reform Act 1988;

• “capital balances” means that amount shown as cash in the accounts of ILEA in respect of the Building and Equipment Renewal and Repair Fund for the financial year ending 31st March 1990 made up and balanced in accordance with regulation 6 of the Accounts and Audit Regulations 1983^f1;

• “direct capital receipts” means money attributable to the disposal of relevant land or other property vested in the LRB pursuant to the 1988 Act;

• “disposal” means disposal by operation of law or otherwise;

• “the LRB” means the London Residuary Body;

• “other property” means any vehicle, vessel, movable and immovable plant, machinery and apparatus;

• “relevant land” means any land or interest in land vested in the LRB pursuant to the 1988 Act; and

• “revenue balances” means that amount shown as precept balances and revenue reserves and funds in the consolidated balance sheet of ILEA as at 31st March 1990 made up and balanced in accordance with regulation 6 of the Accounts and Audit Regulations 1983.

In this Order, unless the context otherwise requires, any reference to a numbered article or Schedule is to be construed as a reference to the article of, or Schedule to, this Order which bears that number.