The Universities Funding Council was a UK body established under the Education Reform Act 1988 replacing the University Grants Committee. 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 which replaced its function by the Higher Education Funding Council for England, the Higher Education Funding Council for Wales and the Scottish Higher Education Funding Council (now the Scottish Funding Council).