The Universities Funding Council was a UK body established under the Education Reform Act 1988

Education Reform Act 1988

The Education Reform Act 1988 is widely regarded as the most important single piece of education legislation in England, Wales and Northern Ireland since the 'Butler' Education Act 1944...

 replacing the University Grants Committee

University Grants Committee (UK)

The University Grants Committee was an advisory committee of the British government, which advised on the distribution of grant funding amongst the British universities. It was in existence from 1919 until 1989...

. It distributed funds provided by central government to universities for the provision of education and the undertaking of research. It was wound up by the Further and Higher Education Act 1992

Further and Higher Education Act 1992

The Further and Higher Education Acts 1992 made changes in the funding and administration of further education and higher education within the United Kingdom. The most visible result was to allow thirty-five polytechnics to become universities. In addition the Act created bodies to fund higher...

 which replaced its function by the Higher Education Funding Council for England

Higher Education Funding Council for England

The Higher Education Funding Council for England is a non-departmental public body of the Department for Business, Innovation and Skills in the United Kingdom, which has been responsible for the distribution of funding to Universities and Colleges of Higher and Further Education in England since...

, the Higher Education Funding Council for Wales

Higher Education Funding Council for Wales

The Higher Education Funding Council for Wales is an Assembly Government Sponsored Body, and anintermediary body between the Welsh Assembly Government and the higher education sector in Wales.- HEFCW business :...

 and the Scottish Higher Education Funding Council.