Part II Higher education
Institutions in the higher education sector
I178 Financial years of higher education corporations F1: Wales.
1
If the Secretary of State directs that any financial year specified in the direction of the higher education corporations F3in Wales, and subsequent financial years, are to begin with a date specified in the direction, then—
a
the financial year of the corporations immediately preceding the year specified in the direction shall end immediately before the date specified in the direction, and
b
the financial year specified in the direction and subsequent financial years shall be each successive period of twelve months.
2
Section 124B(7) of, and paragraph 18 of Schedule 7 to, the M1Education Reform Act 1988 (financial years) shall have effect subject to this section.
F23
In this section “higher education corporation in Wales” means a higher education corporation established to conduct an institution whose activities are carried on, or principally carried on, in Wales.