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Higher Education Legislation Amendment (2007 Budget Measures) Bill 2007

Schedule 4 Adjustment of basic grant amounts

   

Higher Education Support Act 2003

1  Subsection 30-5(2)

Omit “section 33-20”, substitute “Subdivision 33-C”.

2  Section 33-20

Repeal the section.

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 ”.

4  Subsections 33-25(5A) to (6)

Repeal the subsections, substitute:

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

             (6)  The * basic grant amount for a year for a * Table A provider or a * Table B provider is increased by an adjustment if the provider’s * corrected basic amount for the preceding year was more than the provider’s basic grant amount for the year.

             (7)  The adjustment under subsection (6) is the lower of the following amounts:

                     (a)  an amount equal to the difference between:

                              (i)  the * corrected basic amount; and

                             (ii)  the * basic grant amount;

                     (b)  5% of the basic grant amount.

5  Transitional provision

For the purposes of working out if and how a higher education provider’s basic grant amount for the year 2008 or an earlier year is to be adjusted under Subdivision 33-C of the Higher Education Support Act 2003 , disregard the amendments made by this Schedule.