We understand that plans change, and our Funding Agreement provides some scope to do this. There are two types of variation, major and minor.
A major variation will have one or more of the following impacts on the agreed programme of activity and financial statements:
- affect the purpose of an activity (including substitutions in a publishing block grant)
- replacing an activity with another activity
- cause more than a 10% reduction in an activity’s audience target
- cause more than a 10% reduction in financial targets
A major variation requires prior approval from the Manager, Investment Services.
All other variations (such as date changes for activity presentation, changes of venues, etc) are defined as minor and do not need approval. If in doubt about which type of variation is appropriate contact your Investment Services Adviser