A controversial south London academy has been issued with a formal termination notice by the Department for Education.

Last October the school, which hit the headlines because of its complex governance arrangements and the pay of its then-headteacher Sir Greg Martin, received a notice of intention to terminate its funding agreement.

The DfE had said it failed to comply with six of eight requirements set out in a provisional intention to terminate the funding agreement Notice issued to the trust on 4 July 2016.

Its funding is due to be cut on 29 June 2018, and the DfE said it would now transfer the school to a new sponsor.

Academies Minister Lord Nash said: “We have confirmed to Durand Academy Trust that we will be terminating its funding agreement - giving 12 months’ notice. This is not a decision we have taken lightly but follows multiple breaches by the trust of its funding agreement and a failure to meet, or refusal to comply with, the requirements set out by the department to address concerns about financial management and governance.”

“DAT has been given multiple opportunities to respond to our concerns but has failed to do so. We will now begin the process to transfer the school to a new sponsor to safeguard the future education of Durand’s pupils and to ensure public money and public assets intended for the education of children are managed effectively.”