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 20
GRANTS FOR SUPERANNUATION EXPENSES
20(1)
The Minister may determine, for the purposes of this section, that expenditure of a specified kind by institutions to which this section applies, being expenditure in relation to the provision of superannuation benefits for staff of such institutions whose salaries are funded from grants provided under this Act for operating purposes or limited operating purposes, is to be relevant superannuation expenditure.
20(2)
Where the Minister is satisfied that an institution has incurred, or will incur, relevant superannuation expenditure, the Minister may determine an amount of additional financial assistance payable to the institution in respect of a year to which this Chapter applies, and, subject to subsection (3), as from 1 January in that year, the amount determined under section 15 or 16 , as the case requires, in relation to the institution in respect of that year shall be taken to be increased by the first-mentioned amount.
20(3)
The total of the amounts determined under subsection (2) in respect of a year shall not exceed:
(a) in the case of the year 1989 - $108,829,000;
(b) in the case of the year 1990 - $104,931,000;
(c) in the case of the year 1991 - $40,979,000;
(d) in the case of the year 1992 - $53,191,000; and
(e) in the case of the year 1993 - $54,065,000; and
(f) in the case of the year 1994 - $78,613,000; and
(g) in the case of the year 1995 - $69,037,000; and
(h) in the case of the year 1996 - $102,027,000; and
(i) in the case of the year 1997 - $102,027,000; and
(j) in the case of the year 1998 - $108,673,000; and
(k) in the case of the year 1999 - $112,664,000; and
(l) in the case of the year 2000 - $118,297,000; and
(m) in the case of the year 2001 - $100,000,000; and
(n) in the case of the year 2002 - $112,793,000; and
(o) in the case of the year 2003 - $121,497,000; and
(p) in the case of the year 2004 - $124,340,000.
[ 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
19
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 noteThe Minister may determine, for the purposes of this section, that expenditure of a specified kind by institutions to which this section applies, being expenditure in relation to the provision of superannuation benefits for staff of such institutions whose salaries are funded from grants provided under this Act for operating purposes or limited operating purposes, is to be relevant superannuation expenditure.
20(2)
Where the Minister is satisfied that an institution has incurred, or will incur, relevant superannuation expenditure, the Minister may determine an amount of additional financial assistance payable to the institution in respect of a year to which this Chapter applies, and, subject to subsection (3), as from 1 January in that year, the amount determined under section 15 or 16 , as the case requires, in relation to the institution in respect of that year shall be taken to be increased by the first-mentioned amount.
20(3)
The total of the amounts determined under subsection (2) in respect of a year shall not exceed:
(a) in the case of the year 1989 - $108,829,000;
(b) in the case of the year 1990 - $104,931,000;
(c) in the case of the year 1991 - $40,979,000;
(d) in the case of the year 1992 - $53,191,000; and
(e) in the case of the year 1993 - $54,065,000; and
(f) in the case of the year 1994 - $78,613,000; and
(g) in the case of the year 1995 - $69,037,000; and
(h) in the case of the year 1996 - $102,027,000; and
(i) in the case of the year 1997 - $102,027,000; and
(j) in the case of the year 1998 - $108,673,000; and
(k) in the case of the year 1999 - $112,664,000; and
(l) in the case of the year 2000 - $118,297,000; and
(m) in the case of the year 2001 - $100,000,000; and
(n) in the case of the year 2002 - $112,793,000; and
(o) in the case of the year 2003 - $121,497,000; and
(p) in the case of the year 2004 - $124,340,000.
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