|The function of establishing and managing/supporting [Related Company] (D1). (N1)
Related company means '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, Higher Education Funding Council for England, 2005).
This is a generic framework for the function of setting up a related company and of monitoring and controlling its activities. It is based on the stages in the life cycle of a company defined in Related companies: guidance for higher education institutions (Higher Education Funding Council for England, 2005). It is designed to be customised to produce a business classification scheme for any related company which the institution establishes. Identifying and defining the functions and activities of individual related companies is outside the scope of this Business Classification Scheme.