Higher Education Funding Act 1988

An institution is granted financial assistance under section 23A in relation to an approved proposal of the institution in respect of a year on the condition set out in this section.

The total amount spent by the institution in connection with the proposal during the year must not be less than the total amount of the financial assistance paid to the institution under section 23A in relation to the proposal.

For the purposes of subsection (3), the total amount spent by the institution includes amounts spent by the institution after the end of the year in respect of commitments entered into before the end of the year.