70.This section of the Act inserts a new section 15A into the 2005 Act on the monitoring of the financial sustainability of post-16 education bodies.
71.New section 15A(1) places a duty on the Council to secure the monitoring of the financial sustainability of those bodies. Section 15A(2) allows the Council to commission an independent examination into the financial sustainability or financial governance of a post-16 education body where it considers it necessary to do so. Under section 15A(3), the governing body of a post-16 education body must provide an independent financial examiner with any information or documents they reasonably require for the purposes of the examination.
72.Section 15A(4) allows Ministers to request the Council to provide them with information and advice in relation to the financial sustainability of post-16 education bodies – and under section 15A(5) the Council is obliged to provide such information and advice when requested by Ministers, although it can also provide such information and advice whenever it considers it appropriate to do so.
73.Guidance by the Council to fundable bodies
Commentary on Provisions Part 2 – Functions of the Scottish Further and Higher Education Funding Council Section 18: Financial sustainability of post-16 education bodies