Treatment of School Site in XXX Trust Accounts Sample Clauses

Treatment of School Site in XXX Trust Accounts. The freehold (or leasehold as the case may be) of the Church School site will continue to be held by the existing body (e.g. the SDBE) and is (to be) occupied by XXX Trust for the purposes of operating a Church School by means of a Church Supplemental Agreement. This Agreement is a two-year rolling licence and should be treated as a donation, not an asset, in XXX Trust’s accounts.
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