Explanatory Memorandum
(Circulated by authority of the Minister for Education, Science and Training the Hon Dr Brendan Nelson MP)Schedule 1 - Amendment of the Higher Education Funding Act 1988
Item 1
Section 17 sets the maximum aggregate funding levels for operating grants that may be paid to institutions under sections 15 and 16. Item 1 amends section 17 to vary the maximum aggregate funding level for 2004 to reflect over enrolments estimates.
Item 2
Section 110A provides a ministerial discretion to grant transitional financial assistance for the years 2005-2007 to an institution to which financial assistance was payable under Chapter 2 in respect of the year 2004. Item 2 amends subsection 110A(2) to vary the maximum aggregate grant amount for 2005, 2006 and 2007 to reflect supplementation consistent with indexation arrangements.
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