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Powers of governing bodies to comply with conditions as to grants.
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1. Any provisions contained in any instrument regulating the trusts or management of a school or educational institution which are inconsistent with the conditions prescribed for the receipt of grants out of moneys provided by Parliament in the regulations of the Board of Education shall, if the governing body of the school or educational institution apply to the Board for a grant under those regulations, cease to operate or operate subject to such modifications as may be necessary in order to render the instrument consistent with those regulations and as may be made by the governing body, so long as grants are made by the Board under those regulations and during any school year in which the school has been recognised by the Board for the purpose of grants.
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