Part 4TRAINING GUARANTEE FUND

PART 4—TRAINING GUARANTEE FUND

Establishment of Fund

32. (1) An account called the Training Guarantee Fund is established by this subsection.

(2) The Fund is a trust account for the purposes of section 62a of the Audit Act 1901.

Payments into Fund

33. There are to be paid into the Fund:

(a) amounts paid to the Commonwealth under this Act (other than amounts paid in satisfaction or partial satisfaction of penalties imposed by courts); and

(b) amounts paid to the Commonwealth for the purposes of the Fund; and

(c) money appropriated by law for the purposes of the Fund; and

(d) interest from the investment of money in the Fund.

Application of Fund

34. (1) Subject to this section, money in the Fund may be applied for the purposes of:

(a) reimbursing the Commonwealth for:

(i) the costs of administering this Act during any period; and

(ii) costs incurred by the Commonwealth during any period in collecting, compiling, analysing and publishing information about the operation of this Act; and

(b) making payments under training guarantee agreements; and

(c) refunding any overpaid amounts under section 50 or any amounts paid into the Fund in error.

(2) For the purposes of paragraph (1) (a), the Minister for Finance may, from time to time, determine the amount of any reimbursement to be made to the Commonwealth in relation to a period on such basis as the Minister for Finance considers appropriate.

(3) If a training guarantee agreement is not in force in relation to a State or Territory and a period, the Minister may use, for furthering the objects of this Act, any amount that would, in the Minister’s opinion, have been payable to the State or Territory in relation to the period if such an agreement were in force.

(4) If, under section 36 (Failure to comply with training guarantee agreement), an amount has been paid to the Commonwealth by a State or Territory, or an amount has been deducted from a payment to a State or Territory, the amount paid or deducted may be allocated to other States or Territories, or used for otherwise furthering the objects of this Act, as the Minister thinks appropriate.

Training guarantee agreements with States and Territories

35. (1) The Minister may make agreements with a State or Territory about making payments out of the Fund to the State or Territory and the expenditure of those payments, or amounts attributable to those payments, in relation to eligible training programs.