10Purpose for which funding is spent or committed to be spent

#### 10 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 7 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 regulation have effect as if a reference in those subsections to subsection (1) included a reference to subclause (1) of this clause. (3) Financial assistance mentioned in subclause (1) must be spent, or committed to be spent: (a) before 31 December 2022; or (b) as otherwise directed in writing by the Minister. (4) For the purposes of paragraphs (1)(b) and (3)(b) of this clause, 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.