Commonwealth Grant Scheme Guidelines 2020
17Reduction of grant amounts in the following three years
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17 Reduction of grant amounts in the following three years
A reduction, for the purposes of subsection 33-40(4) of the Act, in the amount of the grant payable to a provider under section 33-1 of the Act for each of the years (up to a maximum of three years) following the year in which an advance is made under subsection 33-40(1), will be decided by the Minister. In the years (up to a maximum of three years) following the year in which the advance is made to the provider under subsection 33-40(1) of the Act, the amount of the grant to the provider for a year, payable under section 33-1 of the Act, will also be reduced by an amount (A) calculated in accordance with the following formula.
start formula A equals B minus C end formula Where B = the reduction in the amount of the grant for that year determined by the Minister indexed in accordance with Part 5-6 of the Act. C = the reduction in the amount of the grant for that year determined by the Minister.