HIGHER EDUCATION FUNDING ACT 1988
CHAPTER 2
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GRANTS FOR HIGHER EDUCATION ASSISTANCE
PART 2.2
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OPERATING AND OTHER GRANTS
SECTION 15
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GRANTS FOR EXPENDITURE FOR OPERATING PURPOSES
There is payable to an institution to which this section applies specified in Table A in subsection 4(1), for the purpose of financial assistance in relation to the expenditure of the institution for operating purposes in respect of a year to which this Chapter applies, such amount as the Minister determines having regard to the educational profile of the institution.
[ CCH Note: Act No 150 of 2003, s 3 and Sch 1 items 19 and 24, contain the following transitional provisions:
``Rollover of 2004 grants made under the Higher Education Funding Act 1988
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If:
(a) a body receives a grant of financial assistance under Chapter 2 of the old Act during the year 2004; and
(b) the body fails to spend all of that grant in accordance with the old Act in respect of the year 2004; and
(c) the Secretary determines in writing that this paragraph applies to the body;then so much of the unspent grant amount as the Secretary specifies in relation to the grant will be taken to have been granted to the body under the new Act in respect of the year 2005:
(d) under the section of the new Act that the Secretary specifies in the determination; and
(e) on such conditions as the Secretary specifies in the determination. Definitions
24
In this Schedule:new Act
means the Higher Education Support Bill 2003 .old Act
means the Higher Education Funding Act 1988 .'']
View history note
Hide history noteThere is payable to an institution to which this section applies specified in Table A in subsection 4(1), for the purpose of financial assistance in relation to the expenditure of the institution for operating purposes in respect of a year to which this Chapter applies, such amount as the Minister determines having regard to the educational profile of the institution.
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