183Channelling of payments through the EIF Education Portfolio Special Account

183 Channelling of payments through the EIF Education Portfolio Special Account

(1) The Finance Minister may, by writing, direct that a specified amount is to be: (a) debited from the Education Investment Fund Special Account; and (b) credited to the EIF Education Portfolio Special Account; on a specified day. (2) The direction must be expressed to be given in order to enable the specified amount to be debited from the EIF Education Portfolio Special Account: (a) for the purpose of making a specified payment in relation to the creation or development of higher education infrastructure; or (b) for the purpose of making a specified payment in relation to the creation or development of vocational education and training infrastructure; or (c) for the purpose of making a specified payment in relation to the creation or development of eligible education infrastructure; or (d) for the purpose of making a specified transitional HEEF payment. (3) Paragraphs (2)(a), (b), (c) and (d) do not limit each other. (4) 2 or more directions under subsection (1) may be set out in the same document. (5) A direction under subsection (1) is not a legislative instrument. (6) The Finance Minister must give a copy of a direction under subsection (1) to the Education Minister.