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Reminder: Requirement for ESFA Approval for Academy Related Party Transactions

The ESFA have published information about their new requirements from Monday 1 April for for related party transactions. Academy trusts must now declare when they agree to a related party transaction and seek approval from ESFA before they agree any transactions over £20,000.

The ESFA have also published a summary guide to related party transactions for academy trusts. This covers the information and evidence academy trusts need to prepare before using the online form, which will launch on Monday.