Consent for further education colleges to invest in companies

Abstract

Summary: This guidance document is aimed at college principals and finance directors as well as staff within the Skills Funding Agency. It lays out the requirements for Further Education (FE) colleges to seek Skills Funding Agency (the Agency) consent to invest in companies or charitable incorporated organisations established to conduct an educational institution or providing education that is wholly or partly funded by the Agency. It provides guidance to colleges on the main issues to be considered when investing and the process and criteria to be followed when seeking consent from the Agency. Although this guidance refers to the action and responsibilities of the Skills Funding Agency, it should be noted that the legal entity in whom the statutory functions are vested in is the Chief Executive of Skills Funding. The Skills Funding Agency is the term used to describe the Chief Executive of Skills Funding and his staff to whom he can delegate his functions