65Commonwealth may vary or terminate funding agreements

65 Commonwealth may vary or terminate funding agreements

(1) This section applies to a funding agreement whether entered into before, on or after the day on which this section commences. (2) The Commonwealth may vary a funding agreement (including by omitting existing terms and conditions or adding new terms and conditions) in relation to all or any of the following: (a) the release of funding under the agreement; (b) the way funds are to be spent in accordance with the agreement; (c) the requirements for reporting in relation to services provided under the agreement; (d) the appointment of a person to control funds provided under the agreement; (e) the ways that assets acquired, wholly or partly, with Commonwealth funding are to be used, managed or secured. (3) To the extent that a funding agreement does not include a clause in substantially the same terms as the clause set out in Schedule 3 to this Act, the agreement is taken to include the clause set out in Schedule 3 to this Act. (4) In this section:

asset excludes an asset that is fixed to land.