SL(5)087 - Higher Education Funding Council for Wales Financial Management Code

Background and Purpose

This Financial Management Code (“the Code”) sets out the requirements concerning the organisation and management of financial affairs to which regulated institutions must adhere. This is the first Code prepared under the Higher Education (Wales) Act 2015 (“the 2015 Act”).


Draft negative.

The draft negative procedure set out in section 30 of the 2015 Act provides that if the Welsh Ministers approve a draft of the Code:

-     The Higher Education Council for Wales (“HEFCW”) must not publish the Code until after the period of 40 days beginning with the day on which the draft is laid before the Assembly, but

-     if before the end of that period the Assembly resolves not to approve the draft, HEFCW must not publish it (and must submit a further draft to the Welsh Ministers for approval, and the draft negative procedure starts over again).

Scrutiny under Standing Order 21.7

The Code is not a statutory instrument so the Committee is not reporting under Standing Order 21.2 or 21.3.

The Committee is considering and reporting on the Code under:

-     Standing Order 21.7(i): any subordinate legislation laid before the Assembly;

-     Standing Order 21.7(v): any legislative matter of a general nature within or relating to the competence of the Assembly or the Welsh Ministers.

Reporting points

The Committee reports that the Code (which applies to higher education providers in Wales) is in English only.

Legal Advisers

Constitutional and Legislative Affairs Committee

30 March 2017