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AUSTRALIAN EDUCATION ACT 2013 - SECT 68

Limit on total amount available for capital funding for block grant authorities

  (1)   The total of the amounts that the Minister determines under subsection   67(2) for a year for block grant authorities must not exceed:

  (a)   for 2014--$134,496,000 (the base assistance amount ); and

  (b)   for any other year:

  (i)   the base assistance amount for the year , as indexed under subsection   ( 2) of this section; or

  (ii)   if the regulations prescribe another amount as the base assistance amount for the year for the purposes of this section--that other amount.

Indexing the base assistance amount

  (2)   The base assistance amount for a year is indexed as follows:

   

  (3)   The indexation percentage is:

  (a)   100%; or

  (b)   if the regulations prescribe another percentage (whether more or less than 100%) for the purposes of this paragraph--that percentage.

  (4)   Before the Governor - General makes regulations for the purposes of subsection   ( 3), the Minister must consider changes in the following:

  (a)   indexes of building prices and wage costs prescribed by the regulations;

  (b)   student enrolment in non - government schools.

  (5)   If the base assistance amount worked out under subsection   ( 2) for a year is not a multiple of $1,000, the amount is to be rounded to the nearest $1,000 (rounding $500 upwards).

Failure to comply with subsection   ( 1)

  (6)   A failure to comply with subsection   ( 1) does not affect the validity of a payment made as a result of a determination made under paragraph   28(1)(b) (Minister to determine timing and amounts of capital funding).


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