Commonwealth Numbered Acts Commonwealth Numbered Acts(1) The Education Minister must not authorise a grant under section 45 during a financial year unless the Education Minister has been given a statement under subsection 48(1) in relation to the financial year.
Note: A statement under subsection 48(1) sets out the result of the Future Fund Board's calculation of the maximum grants amount in relation to the financial year.
(2) The total amount of grants authorised under section 45 during a financial year must not exceed the result set out in the statement given to the Education Minister under subsection 48(1) in relation to the financial year.
(3) The Education Minister must not authorise a grant under section 45 before 1 July 2008.