sec.22FCAA may provide additional capital assistance

sec.22F CAA may provide additional capital assistance

This section applies if the Minister grants an application by the approved authority of an eligible non-State school for capital assistance for a proposed capital project. The CAA with which the school is listed may provide an additional amount of capital assistance ( additional capital assistance ) to the approved authority for the proposed capital project. However, the CAA may provide the additional capital assistance only if there has been a variation in the cost of the proposed capital project that was not reasonably foreseeable at the time the application for capital assistance was made by the approved authority. The additional capital assistance must be not more than 10% of the amount granted by the Minister for the proposed capital project. The CAA may provide the additional capital assistance only from an amount in its Capital Assistance Fund that is— interest mentioned in section 12 (2) (b) or (d) ; or another amount that is not required to be paid to an approved authority under section 22 , including— an amount returned to the CAA by an approved authority under an agreement mentioned in section 22 ; and an amount remaining in the fund because of a revocation under section 22E . If a CAA provides additional capital assistance to an approved authority it must give the Minister a written notice about the provision of the additional capital assistance, including the amount of the additional capital assistance provided. s 22F ins 2004 No. 44 s 15 (sec.22F-ssec.1) This section applies if the Minister grants an application by the approved authority of an eligible non-State school for capital assistance for a proposed capital project. (sec.22F-ssec.2) The CAA with which the school is listed may provide an additional amount of capital assistance ( additional capital assistance ) to the approved authority for the proposed capital project. (sec.22F-ssec.3) However, the CAA may provide the additional capital assistance only if there has been a variation in the cost of the proposed capital project that was not reasonably foreseeable at the time the application for capital assistance was made by the approved authority. (sec.22F-ssec.4) The additional capital assistance must be not more than 10% of the amount granted by the Minister for the proposed capital project. (sec.22F-ssec.5) The CAA may provide the additional capital assistance only from an amount in its Capital Assistance Fund that is— interest mentioned in section 12 (2) (b) or (d) ; or another amount that is not required to be paid to an approved authority under section 22 , including— an amount returned to the CAA by an approved authority under an agreement mentioned in section 22 ; and an amount remaining in the fund because of a revocation under section 22E . (sec.22F-ssec.6) If a CAA provides additional capital assistance to an approved authority it must give the Minister a written notice about the provision of the additional capital assistance, including the amount of the additional capital assistance provided.