131.Section 89provides for the dissolution of the Further Education Funding Council for England (FEFCE). On the day of its dissolution, its assets, rights and liabilities will transfer to the LSC.
132.Some of the assets of the FEFCE are used for its inspection work and they may be required by ALI or OFSTED. Section 90 therefore provides for transfer schemes by which the Secretary of State may transfer property, rights and liabilities from the FEFCE to himself or to OFSTED or ALI in advance of the dissolution date. All remaining property, rights and liabilities of the FEFCE which are not already transferred by such a scheme will then transfer on the date of dissolution to the LSC by virtue of the provisions of section 89.
133.Section 91 provides for the dissolution of the Further Education Funding Council for Wales (FEFCW). On dissolution, the FEFCW’s assets, rights and liabilities will transfer to the CETW.
Commentary on Sections Part V - Miscellaneous and General Sections 89 to 91: dissolution of the FEFC for England and the FEFC for Wales