UK Statutory Instrument
2002
United Kingdom
The School Companies Regulations 2002
At a glance
What's here
12 compliance obligations
Who this Act binds
Plus 1 non-business duty on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 15 other Schedules — structural / supplementary
A person who at any time has been convicted as...
A person who has not attained the age of 18;...
A person who is liable to be detained under the...
A person who is employed by the governing body of...
Individuals who cannot be members of a school company
Individuals who cannot be members of a school company
A person who has made a composition or arrangement with,...
A person who is subject to a disqualification order under...
A person who has been removed from the office of...
A person who has been removed under section 7 of...
A person who is included in the list of teachers...
A person who is disqualified from being the proprietor of...
A person who is subject to a direction under section...
A person who either during his membership of the company,...
Persons who may be admitted to membership of School Companies
- Restrict membership to approved persons and bodies
Restriction on entering into contracts in which a director of the company has an interest
- Restrict contracts with director interests to necessary and reasonably priced goods/services
Procedure in meetings of the directors if a director has an interest in a matter to be discussed
- Include director conflict-of-interest rules in your company constitution
Directors of School Companies and their remuneration
- Ensure your school company's constitution includes non-executive directors and a remuneration committee
Procedure for deciding remuneration and benefits of directors
- Include director remuneration voting restriction in company constitution
Application of any surplus or profits of a school company
- Decide how surplus or profits will be used in your company constitution
Permission required before a school company may borrow
- Get permission from your supervising authority before borrowing
Notice required if a member wishes to leave a company
- Include member resignation clause with 12-week notice in constitution
Designation of a supervising authority by a school company
- Designate a supervising local education authority
Notification required if a company ceases to be a school company
- Notify supervising authority if your company ceases to be a school company
Duty of a school company to provide information and accounts to its supervising authority
- Provide accounts and constitution to the supervising authority
Notification and revocation of a direction to a governing body
Other duties (1) — Crown / regulator
- Supervising authority must notify school company of direction to governing body within 7 days Crown / Minister / Government department
Browse 23 other sections — procedural / definitional / commencement
Individuals who cannot be members of a school company
Citation and commencement
Interpretation
Definition of “an agreement under the private finance initiative”
Companies governed by these Regulations
Restriction on school funding of school companies
Circumstances where a governing body must withdraw from a school company
Grounds on which a local education authority may refuse permission to a school governing body to become a member of a school company
Duty to provide written reasons for refusal
Designation of a supervising authority by the relevant local education authorities
Designation of a supervising authority by the Secretary of State
Written notice required when the Secretary of State revokes the designation of a supervising authority
Supervising authority may resign
Circumstances in which the supervising authority must resign
Procedure where a supervising authority resigns
Initial functions of a supervising authority
Duties of a supervising authority
Duty to notify Secretary of State
Powers of a supervising authority
Circumstances where a supervising authority must direct a governing body
Procedures relating to directions from a supervising authority
Direction to a governing body to reduce its involvement in the management of a school company
Direction to a governing body to resign from a school company
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