Academies Bill [Lords]

I beg to move amendment 76, page 5, line 34, leave out from 'time' to end of line 36 and insert"'after deducting from any amount made available by a local authority to the school's governing body (under section 50 of SSFA 1998 or otherwise) that has not been spent by the governing body or the headteacher, all existing and contingent liabilities not transferring to the Academy under a property transfer scheme (including any liabilities of the local authority incurred on behalf of the school), there is a net amount available.'."