Transfer of School Surpluses to Academies

August 5th, 2010

The Academy Conversions (Transfer of School Surpluses) Regulations 2010 were laid before Parliament on 4 August and come into force on 1 September.  They set out the timetable within which a local authority must determine for the purposes of s 7 of the Act whether a school that is converting to academy status has a surplus, and the amount of that surplus.  Local authorities have 3 months from the ‘conversion date’ in which to do this. Schools have 1 month in which to appeal any determination to the Secretary of State.  The Secretary of State must determine any appeal within 3 months.  The authority must pay the surplus over to the school within one month of receiving confirmation from the school that it accepts the determination, or within one month of the expiry of the time limit for an appeal, or within one month of the Secretary of State’s determination, whichever is the earlier.

Holly Stout

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