Updated: Updated long-term lease.

Before an academy can open, the academy trust needs to agree the legal arrangements between itself and the local authority or other owner (such as a diocese) of the land and buildings to be used by the academy.

The lease has been updated to recognise the introduction of the risk protection arrangement (RPA) for academy trusts. The RPA is an alternative to insurance where losses that arise are covered by UK government funds.

https://www.gov.uk/government/publications/academy-long-term-lease-model