33Special grants for equipment

33 Special grants for equipment

(1) A State may, from time to time, submit for the approval of the Commission proposals for expenditure on equipment for use in the provision of technical and further education in that State. (2) The Commission may approve a proposal submitted to it by a State under subsection (1) as an approved proposal for expenditure upon equipment for use in the provision of technical and further education in that State in respect of a year to which this Part applies 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 on equipment for use in the provision of technical and further education in a State in respect of a year to which this Part applies, there is payable to that State, for the purpose of financial assistance in relation to expenditure incurred or to be incurred by the State and by instrumentalities of the State 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 on equipment for use in the provision of technical and further education in that State in respect of a year to which this Act applies shall not exceed the amount specified in relation to that State in the Column of Schedule 15 that relates to that year. (5) Financial assistance is granted to a State under subsection (3) in relation to approved proposals for expenditure on equipment for use in the provision of technical and further education in that State in respect of a year to which this Part applies on the conditions that:

(a) the State will ensure that the sum of the amounts expended by the State and by instrumentalities of the State in connection with those proposals 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 those proposals in respect of that year; and

(b) 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 by the State and by instrumentalities of the State in connection with those proposals, 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.