83CFinancial assistance not to be provided to schools that operate for profit

#### 83C Financial assistance not to be provided to schools that operate for profit 83C Financial assistance not to be provided to schools that operate for profit > > (1) The Minister must not provide financial assistance (whether under this Division or otherwise) to or for the benefit of a school that operates for profit. > > > (2) A school operates for profit (without limiting the circumstances in which it does so) if the Minister is satisfied that— > > > > > (a) any part of its proprietor’s assets (in so far as they relate to the school) or its proprietor’s income (in so far as it arises from the operation of the school) is used for any purpose other than for the operation of the school, or > > > > > (b) any payment is made by the school to a related entity or other person or body— > > > > > > > (i) for property, goods or services at more than reasonable market value, or > > > > > > > (ii) for property, goods or services that are not required for the operation of the school, or > > > > > > > (iii) for property, goods or services that is in any other way unreasonable in the circumstances having regard to the fact that financial assistance is provided to or for the benefit of the school by the Minister, or > > > > > (c) any payment is made by the school to a person in connection with the person’s activities as a member of the governing body of the school unless it is in reimbursement for a payment made by the person in connection with the operation of the school. > > > (3) The regulations may specify whether or not a school operates for profit because of any particular use of assets or income, any particular payment in relation to the school or any other matter. Any such regulation has effect despite anything to the contrary in subsection (2). > > > (4) The Minister is not obliged to terminate the provision of financial assistance because of this section if, following an investigation under this Division, the Minister is satisfied that— > > > > > (a) termination of financial assistance is not justified because of the minor nature of the relevant conduct, or > > > > > (b) more appropriate action can be taken under section 83E. > > > (5) In this section— > > > > asset means an economic resource that may depreciate in value over time. > > > > income means money or other forms of consideration received periodically from the provision of property, goods or services, investments, gifts, donations, grants, financial assistance or any other gain obtained from the use of a school’s assets or its proprietor’s assets. > > > > payment means a transaction involving consideration (including non-monetary consideration) and includes a commitment to spend or a liability incurred (whether or not the time for payment has arisen). > > **s 83C:** Ins 2014 No 62, Sch 1 \[14\]. Am 2018 No 68, Sch 1.9 \[2\].