# The Local Authorities (Capital Finance) Regulations 1997, Regulation 60: Disposal of premises transferred to grant-maintained school

Extent: E+W
Status: prospective

(1) In this regulation, “grant-maintained school” has the same meaning as in section 183 of the Education Act 1996.
(2) Where the governing body incorporated for the purpose of conducting a grant-maintained school are required by the Secretary of State under section 298(2)(b) of the Education Act 1996 to pay a sum to a local authority, the sum received by the authority shall be a capital receipt.

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Source: https://www.legislation.gov.uk/uksi/1997/319/regulation/60 (the official version)
Page: https://openlegislation.uk/local-authorities-capital-finance-regulations-1997/regulation-60
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.