Abolition arrangements Sample Clauses

Abolition arrangements. ‌ The Institute has been established as a statutory corporation and Crown Body. In the event that Parliament should pass legislation for the Institute to be abolished as a legal entity any such arrangements should be given effect to in accordance with that legislation. If the Institute is abolished, the Department shall put in place arrangements to ensure the orderly abolition of the Institute. In particular, it should ensure that the assets and liabilities of the Institute are passed to any successor organisation and accounted for properly. In the event that there is no successor organisation, the assets and liabilities should revert to the Department, which shall: • ensure that procedures are in place in the Institute to gain independent assurance on key transactions, financial commitments, cash flows and other information needed to handle the abolition effectively and to maintain the momentum of work inherited by any residuary body; • specify the basis for the valuation and accounting treatment of the Institute’s assets and liabilities; • ensure that arrangements are in place to prepare closing annual report and accounts and pass to the C&AG for external audit, and that, for non-Crown bodies funds are in place to pay for such audits. It shall be for the C&AG to lay the final annual report and accounts in Parliament, which include their report on the accounts; • arrange for the most appropriate person to sign the closing annual report and accounts. In the event that another arm’s length body (ALB) takes on the role, responsibilities, assets and liabilities, the succeeding ALB AO should sign the closing annual report and accounts. In the event that the Department inherits the role, responsibilities, assets and liabilities, the Department’s AO should sign; and • meet any abolition costs that the Institute cannot meet within its remaining in-year budget. More broadly, The Department and the Institute are signatories to a keep-well agreement, which sets out arrangements if the Institute is unable to meet its payment obligations. Xxxxxxxx Xxxxxx Xxx Xxxxx Xxxxxxxx Permanent Secretary Chief Executive date date (On behalf of the Department for Education) (On behalf of the Institute) APPENDIX 1 - List of delegated authorities‌ These delegated limits must be used in accordance with section 21 of the framework document, which sets out areas where the Institute should seek DfE approval before incurring any expenditure, in line with standard Departmental/ESFA proced...
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Related to Abolition arrangements

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  • EXIT ARRANGEMENTS 37.1 The Department and the Provider must, unless the Provider will be responsible for delivering the Services in the following Funding Year, comply with the exit arrangements set out in Schedule 8 (Exit Arrangements) and any current Exit Plan.

  • Transitional Arrangements Seller and Purchaser agree to cooperate and to proceed as follows to effect the transfer of account record responsibility for the Branches:

  • Post-Termination Arrangements Except in the case of termination as a result of either Party's default or a termination upon sale, for service arrangements made available under this Agreement and existing at the time of termination, those arrangements may continue without interruption (a) under a new agreement voluntarily executed by the Parties; (b) standard terms and conditions approved and made generally effective by the Commission, if any; (c) tariff terms and conditions made generally available to all CLECs; or (d) any rights under Section 252(i) of the Act.

  • GOVERNANCE ARRANGEMENTS Enforceability of the Agreement

  • Special Arrangements Fees for activities of a non-recurring nature such as reorganizations, and/or preparation of special reports will be subject to negotiation. Fees for a change in fund structure (i.e., Core and Feeder) are subject to negotiation.

  • PAYMENT ARRANGEMENTS 4.1 A pre-financing payment shall be made to the participant no later than (whichever comes first): 30 calendar days after the signature of the agreement by both parties the start date of the mobility period [optional: or upon receipt of confirmation of arrival by the beneficiary] representing [between 70% and 100%] of the amount specified in Article 3 [NA may add: per semester]. In case the participant did not provide the supporting documents in time, according to the sending institution's timeline, a later payment of the pre-financing can be exceptionally accepted.

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