Document ID: chunk:federal_register_of_legislation:F2024C01213:clause:1_40
Version: federal_register_of_legislation:F2024C01213
Segment Type: clause
Provision Reference: sch 1 cl 40
Character Range: 159189–160445

40  Purpose for which funding is spent or committed to be spent
 (1) For the purposes of paragraph 78(2)(a) of the Act, an approved authority for a school must spend, or commit to spend, financial assistance that is payable for the school under subsection 69A(1) of the Act in the circumstances mentioned in clause 38 of this Schedule:
 (a) for the purpose of providing school education at a school for which the authority is approved; and
 (b) in accordance with any written directions given by the Minister.
 (2) Subsections 29(2) and (3) of this instrument have effect as if a reference in those subsections to subsection (1) included a reference to paragraph (1)(a) of this clause.
 (3) Financial assistance mentioned in subclause (1) must be spent, or committed to be spent:
 (a) by the day, or within the period, directed in writing by the Minister; or
 (b) if there is no such direction—in the year in which the assistance is paid to the approved authority.
 (4) For the purposes of subclause (1) and paragraph (3)(a), the Minister may give written directions to an approved authority.
 (5) Any interest earned on financial assistance mentioned in subclause (1) must be spent, or committed to be spent, in the same way as the financial assistance.