Part 2: Further Education Bodies: Insolvency etc. Chapter 4: Further Education Bodies: Special Administration Section 27: Grants and loans where education administration is made
Section 27 gives the Secretary of State, or for Wales the Welsh Ministers, the power to make grants or loans to the further education body for the purposes of achieving the special objective. A grant or loan can be made on any terms that are considered appropriate, including making the grant or loan repayable, with or without interest. The terms must specify how the loan and any interest are to be repaid on vacation of office by the education administrator.