(1) Financial assistance is granted to an institution under section 15 or 16 in respect of a year on the conditions that:
(b) the institution will spend each amount of financial assistance received by it only in accordance with the educational profile of the institution provided to the Minister as at the time of the making of the determination under section 15 or 16 that resulted in the payment; and
(c) the sum of the amounts spent by the institution for operating purposes or for limited operating purposes, as the case may be, in respect of that year is not less than the sum of the following amounts:
(i) the amount determined by the Minister under the section concerned in relation to the institution in respect of that year;
(ii) any amounts paid to the institution by students under subparagraph 41(1)(a)(i), paragraph 41(1A)(a) or 56(b) in that year less any amounts paid to students by the institution under paragraph 56(a) in that year;
(iii) any amounts paid to the institution by the Commonwealth under subsection 57(2) or (3) in that year; and
(d) subject to subsection (2), the institution does not charge any student fees in respect of that year or a part of that year except as provided by section 13; and
(g) the institution gives to the Minister, not later than such date as the Minister specifies, such statistical and other information as the Minister requires from the institution in respect of the provision of higher education by the institution during that year.
(2) Paragraph (1)(d) does not apply in relation to:
(aa) The University of Notre Dame Australia; or
(b) a course of study at Avondale College that is not funded in whole or in part by the Commonwealth.