Document ID: chunk:federal_register_of_legislation:C2007A00119:clause:4_3
Version: federal_register_of_legislation:C2007A00119
Segment Type: clause
Provision Reference: sch 4 cl 3
Character Range: 12311–13682

3  Subsections 33‑25(1) to (4)
Repeal the subsections, substitute:

Corrected basic amount is less than the basic grant amount (Table A and B providers)

 (1) The *basic grant amount for a *Table A provider or a *Table B provider for a year is reduced by an adjustment if the provider's *corrected basic amount for the preceding year was less than 99% of the provider's basic grant amount for that year.

 (2) The adjustment under subsection (1) is the lower of the following amounts:
 (a) an amount equal to the difference between:
 (i) 99% of the basic grant amount; and
 (ii) the *corrected basic amount;
 (b) 4% of the basic grant amount.

Corrected basic amount is less than the basic grant amount (non‑Table A and B providers)

 (3) The *basic grant amount for a higher education provider that is not a *Table A provider or a *Table B provider is reduced by an adjustment if the provider's *corrected basic amount for the preceding year was less than the provider's basic grant amount for that year.

 (4) The adjustment under subsection (3) is an amount equal to the difference between:
 (a) the basic grant amount; and
 (b) the *corrected basic amount.

Note 1: The heading to section 33‑25 is altered by omitting "that apply in the absence of guidelines".

Note 2: The following heading to subsection 33‑25(5) is inserted "Meaning of corrected basic amount".