Statutory Instrument 1989 No. 1288

The Education (Pre-Scheme Financial Statements) (Amendment) Regulations 1989

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© Crown Copyright 1989

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1989 No. 1288

EDUCATION, ENGLAND AND WALES

The Education (Pre-Scheme Financial Statements) (Amendment) Regulations 1989

In exercise of the powers conferred on the Secretary of State by section 50(5) to (7) of the Education Reform Act 1988^[1] , the Secretary of State for Education and Science, as respects England, and the Secretary of State for Wales, as respects Wales, hereby make the following Regulations:

    1.    These Regulations may be cited as the Education (Pre-Scheme Financial Statements) (Amendment) Regulations 1989 and shall come into force on 18th August 1989.

    2.    In these Regulations a reference to "the principal Regulations" is a reference to the Education (Pre-Scheme Financial Statements) Regulations 1989^[2] .

    3.—(1)  For paragraph (c) of regulation 3 of the principal Regulations, there shall be substituted the following—
"(c) all other expenditure (other than expenditure of a capital nature or expenditure in respect of the repayment of the principal of, the payment of interest on and the discharge of any other financial obligation in connection with any loan raised to meet expenditure of a capital nature) treated by the authority as not forming part of the direct costs of relevant schools" .



    (2)  For paragraph (2)(a) of regulation 4 of the principal Regulations there shall be substituted the following—
"(a) the amount attributable to—
(i) expenditure of a capital nature; and

(ii) expenditure in respect of the repayment of the principal of, the payment of the interest on and the discharge of any other financial obligation in connection with any loan raised to meet expenditure of a capital nature; and" .



    (3)  In regulation 4(3) of the principal Regulations, after the word "particulars" , there shall be inserted the following—
"(in so far as they relate to the financial provision initially planned by the authority in respect of the financial year to which the statement relates for the schools required to be covered by the statement)" .

Kenneth Baker

Secretary of State for Education and Science

21st July 1989

Peter Walker

Secretary of State for Wales

25th July 1989

These Regulations correct an error in two provisions of the Education (Pre-scheme Financial Statements) Regulations 1989 (S.I. 1989/370) by inserting references to interest on, and other financial obligations in respect of, loans raised to meet expenditure of a capital nature. The opportunity is also taken to clarify a reference in regulation 4(3) of those Regulations.

[1] 1988 c. 40. For matters to be prescribed, see section 235(7) of this Act and section 114(1) of the Education Act 1944 (c. 31), and for the transfer of functions to the Secretary of State see S.I. 1964/490, 1970/1536 and 1978/274. back

[2] S.I. 1989/370. back