58Conditions that apply to grants

58 Conditions that apply to grants

(1) For the purposes of section 41-25 of the Act, conditions that apply to grants under the Higher Education Superannuation Program are set out in this section (in addition to any other conditions that apply to grants under paragraph 41‑25(1)(c) of the Act). (2) Grants under this program may only be applied towards: (a) a provider’s ongoing superannuation expenses (such as administrative fees, management fees and applicable taxes); (b) paying out superannuation liabilities. (3) Grants under this program may not be applied towards: (a) superannuation employer contributions for current employees; or (b) superannuation liabilities which are, in the Minister’s reasonable opinion, attributed to excess salary increases. (4) Grants under this program are provided on condition that providers reconcile grants received with actual member entitlements paid in relation to the schemes or funds referred to in subsection 55(3) by: (a) obtaining supporting documentary evidence (such as invoices) from the relevant superannuation fund or scheme and providing that evidence to the Department upon request; and (b) providing authority for the Commonwealth to obtain further information in relation to the expenses and liabilities covered by a grant from the relevant superannuation scheme or fund.