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HIGHER EDUCATION FUNDING ACT 1988 - SECT 20

Grants for superannuation expenses

             (1)  The Minister may determine, for the purposes of this section, that expenditure of a specified kind by institutions to which this section applies, being expenditure in relation to the provision of superannuation benefits for staff of such institutions whose salaries are funded from grants provided under this Act for operating purposes or limited operating purposes, is to be relevant superannuation expenditure.

             (2)  Where the Minister is satisfied that an institution has incurred, or will incur, relevant superannuation expenditure, the Minister may determine an amount of additional financial assistance payable to the institution in respect of a year to which this Chapter applies, and, subject to subsection (3), as from 1 January in that year, the amount determined under section 15 or 16, as the case requires, in relation to the institution in respect of that year shall be taken to be increased by the first-mentioned amount.

             (3)  The total of the amounts determined under subsection (2) in respect of a year shall not exceed:

                     (a)  in the case of the year 1989--$108,829,000;

                     (b)  in the case of the year 1990--$104,931,000;

                     (c)  in the case of the year 1991--$40,979,000;

                     (d)  in the case of the year 1992--$53,191,000; and

                     (e)  in the case of the year 1993--$54,065,000; and

                      (f)  in the case of the year 1994--$78,613,000; and

                     (g)  in the case of the year 1995--$69,037,000; and

                     (h)  in the case of the year 1996--$102,027,000; and

                      (i)  in the case of the year 1997--$102,027,000; and

                      (j)  in the case of the year 1998--$108,673,000; and

                     (k)  in the case of the year 1999--$112,664,000; and

                      (l)  in the case of the year 2000--$118,297,000; and

                    (m)  in the case of the year 2001--$100,000,000; and

                     (n)  in the case of the year 2002--$112,793,000; and

                     (o)  in the case of the year 2003--$121,497,000; and

                     (p)  in the case of the year 2004--$124,340,000.



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