19Grants for equipment

19 Grants for equipment

(1) A State may, from time to time, submit for the approval of the Commission proposals for expenditure by a college of advanced education situated in that State on equipment for use by the college. (2) The Commission may approve a proposal submitted to it under subsection (1) in relation to a college of advanced education as an approved proposal for expenditure by the college in respect of a year to which this section applies on equipment subject to such conditions as the Commission determines, and may revoke or vary any such approval. (3) Subject to subsection (4), in relation to each approved proposal for expenditure by a college of advanced education in respect of a year to which this section applies on equipment, there is payable to the State in which the college is situated, for the purpose of financial assistance in relation to expenditure incurred or to be incurred by the college or by the body administering the college in connection with the approved proposal, an amount equal to the amount of the proposed expenditure. (4) The sum of the amounts payable to a State under subsection (3) in respect of approved proposals for expenditure by colleges in respect of a year to which this section applies shall not exceed the amount specified in relation to that State in the column of Schedule 9 that relates to that year. (5) Financial assistance is granted to a State under subsection (3) in relation to approved proposals for expenditure by a college of advanced education in respect of a year to which this section applies on the conditions that:

(a) the State will, without undue delay, pay to the college each amount paid to it under subsection (3) in relation to those proposals;

(b) the State will ensure that the sum of the amounts expended by the college in connection with approved proposals for expenditure by the college in respect of that year, being amounts expended before 1 January next following the end of that year or expended on or after that date in respect of commitments entered into before that date, is not less than the sum of the amounts of financial assistance paid to the State under subsection (3) in relation to approved proposals of the college in respect of that year; and

(c) the State will cause to be furnished to the Commission, not later than 30 September next following the end of that year, a statement by a qualified auditor, in accordance with a form approved by the Commission, as to the expenditure of the college in connection with approved proposals for expenditure by the college in respect of that year, being expenditure that occurred before 1 January next following the end of that year or that occurred on or after that date in respect of commitments entered into before that date.

(6) In this section, year to which this section applies means the year 1982, the year 1983 or the year 1984.