Paragraph 4 School not to be conducted for profit

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. para. 12(3) words inserted by Employment and Support Allowance (Consequential Provisions) 2008 reg. 5
Sch. para. 21(6)(a) word substituted by Apprenticeships, Skills, Children and Learning Act 2009, Parts 7 and 8 2010 art. 5
Sch. para. 3C(2)(b) words inserted by Education (Miscellaneous Amendments relating to Safeguarding Children) 2009 reg. 2(3)

(1)

The school shall not be conducted for profit.

(2)

No member of the staff shall have a financial interest therein otherwise than by reason only of his being employed for the purposes thereof at a salary unrelated to the financial performance of the school.