Document ID: chunk:federal_register_of_legislation:F2024C01213:reg:3
Version: federal_register_of_legislation:F2024C01213
Segment Type: reg
Provision Reference: reg 3
Character Range: 128494–130085

3                                               Over $1.5 million         20 years

 (2) If the school ceases to provide primary education or secondary education during the first half of the period specified in column 2 of an item in the table in subsection (1), the amount specified under paragraph 110(1)(a) or (b) of the Act must not exceed the capital funding amount.
Note 1: Paragraphs 110(1)(a) and (b) of the Act allow the Minister to require a State or Territory to repay an amount and reduce the amount that is payable to a State or Territory.
Note 2: Subsections (2) and (3) are prescribed for subsection 110(3) of the Act.
 (3) If the school ceases to provide primary education or secondary education during the second half of the period specified in column 2 of an item of the table in subsection (1), the amount specified under paragraph 110(1)(a) or (b) of the Act must not exceed the amount that remains if, each year in the second half of the period, the capital funding amount were reduced by equal proportions.
Example: Financial assistance of $2 million is provided to a block grant authority to build a school building for a primary school. If the school ceases to provide primary education during the 10 year period after the financial assistance is provided, the entire amount may be recovered by the Commonwealth. For each year following that 10 year period, the amount that may be recovered by the Commonwealth reduces by 10%.
 (4) In determining a period for the purposes of subsection (2) or (3), round the period to the nearest full year.

Part 7—Miscellaneous