Paragraph 17 Meaning of “financial year” and “academic year”I1

England and Wales

I2(1)

In paragraphs 15 and 16 “financial year” means—

(a)

the period beginning on the day on which section 1 comes into force and ending on the following 31 March;

(b)

subsequently, each successive period of 12 months.

I3(2)

In paragraph 16 “academic year” means the period of 12 months ending on 31 August in the financial year.

Annotations

I1: Sch. 1 para. 17 not in force at Royal Assent, see s. 148(2)
I2: Sch. 1 para. 17(1) in force at 1.4.2025 by S.I. 2024/806, art. 14(b) (with art. 28)
I3: Sch. 1 para. 17(2) in force at 31.7.2026 by W.S.I. 2026/62, art. 16(c)(ii)