HIGHER EDUCATION FUNDING ACT 1988
[ 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 approve a proposal for expenditure as a proposal deserving financial assistance under this section in respect of a year to which this Chapter applies if:
(a) the proposal is for expenditure by an institution to which this section applies or by another incorporated body; and
(b) the proposal is for expenditure:
(i) upon a project relating to a matter of national priority in higher education; or
(ii) that will be used to maintain or enhance innovation in, or the quality of, higher education provided by an institution.
21(2)
The Minister may give approval under subsection (1), subject to such conditions as he or she determines.
21(3)
If the Minister approves a proposal under subsection (1) in respect of a year, then, subject to section 23C :
(a) the Minister must determine an amount as the estimated total expenditure on the proposal for the year; and
(b) the Minister must determine an amount of approved expenditure in relation to the proposal for the year; and
(c) the amount of approved expenditure on the proposal for the year must not be greater than the amount of estimated total expenditure on the proposal for the year.
21(4)
If the Minister determines an amount in relation to a proposal for expenditure by an institution in respect of a year, the amount specified in a determination under section 15 or 16 , as the case requires, in relation to the institution in respect of that year is taken to be increased by the amount of the approved expenditure.
21(5)
If the Minister determines an amount in relation to a proposal for expenditure by a body other than an institution in respect of a year, there is payable to the body in connection with the proposal in respect of that year an amount equal to the amount determined by the Minister.
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