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Higher Education Business Classification Scheme and Records Retention Schedules

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RELATED COMPANIES MANAGEMENT

The function of setting up and managing related companies (D1). (N1)

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For the establishment and management of individual related companies, add a new Function for each company using the framework provided in RELATED COMPANIES.

Definitions

D1

A related company is 'Any legal entity where the institution has control over, or exercises a substantial degree of influence over, that company's activities.' (Related Companies: guidance for higher education institutions, HEFCE 2005/48, Glossary). This HEFCE guidance contains detailed information about the different types of legal entity which may be used to establish a related company.

Notes

N1

This function is intended to cover the corporate management of all related companies established by the institution, regardless of their purpose or legal form. For managing an individual related company, use the framework provided in RELATED COMPANIES.

 

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