15Higher education funding condition

15 Higher education funding condition

(1) Financial assistance to which a State is entitled under this Act in relation to the grant year is granted on condition that the State will pay to the Commonwealth an amount equal to the sum of the amounts (if any) that have been paid by the Commonwealth under section 25A or 25B of the Higher Education Funding Act 1988 during the grant year as a direct or indirect consequence of the actions of that State. (2) The Treasurer may, at any time after 31 May in the grant year, deduct from a payment due to a State under this Act, in respect of the grant year or a later year, an amount that is payable by the State to the Commonwealth under subsection (1) and remains unpaid. (3) An amount deducted under subsection (2) from the payment due to a State is taken to have been paid by the State to the Commonwealth under subsection (1).