The Education Act 1993 provides for the establishment of two funding authorities
: in England, the Funding Agency for Schools (FAS), which was established on 1 April 1994; and in Wales, the Schools Funding Council for Wales (SFCW), which the Act empowers the Secretary of State for Wales to set up by Order. No Order has yet been made.
The FAS is responsible for calculating and paying grants
to grant-maintained and grant-maintained special schools and has responsibilities for the provision of school places in areas where there are significant numbers of grant-maintained schools. The SFCW has similar responsibilities.