Statutory Instrument 1996 No. 1766

The Richmond Adult and Community College (Attribution of Surpluses and Deficits) Regulations 1996

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© Crown Copyright 1996

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1996 No. 1766

EDUCATION, ENGLAND AND WALES

The Richmond Adult and Community College (Attribution of Surpluses and Deficits) Regulations 1996

The Secretary of State for Education and Employment, in exercise of the powers conferred on the Secretary of State by sections 37, 61(1) and 89(4) of the Further and Higher Education Act 1992^[1], hereby makes the following Regulations:

    1.    These Regulations may be cited as The Richmond Adult and Community College (Attribution of Surpluses and Deficits) Regulations 1996, and shall come into force on 1st August 1996.

    2.    In these Regulations—
 (a) "the College" means the institution known as Richmond Adult and Community College;
 (b) "the principal Regulations" means the Further Education (Attribution of Surpluses and Deficits) Regulations 1993^[2]; and
 (c) a reference to a section is a reference to a section of the Further and Higher Education Act 1992.

    3.    In the case of the College, section 37 and the principal Regulations shall apply with the following modifications.

    4.—(1)  In section 37 and in the principal Regulations the expression "the relevant financial year", and in section 37(4) and (7) the expression "any financial year of the institution", shall mean the period from 1st April 1996 to 31st July 1996.

    (2)  In the principal Regulations (except regulation 1) wherever "1st April 1993" appears substitute for that date "1st August 1996".

James Paice

Parliamentary Under-Secretary of State, Department for Education and Employment

8th July 1996

These Regulations modify section 37 of the Further and Higher Education Act 1992 and the Further Education (Attribution of Surpluses and Deficits) Regulations 1993 for the purposes of their application to Richmond Adult and Community College. The College becomes an institution within the further education sector on 1st August 1996, and the modifications provide for the calculation and payment of a surplus or deficit under section 37 of the 1992 Act by reference to that date, rather than 1st April 1993, when most of the institutions in the sector entered it.

[1] 1992 c. 13. back

[2] S.I. 1993/609. back