Higher Education Funding Act 1988

Each institution must allocate each relevant unit of study to one of the following Bands, in accordance with guidelines issued by the Minister:

Band 3;

Band 2;

Band 1.

The annual Band amounts for 1997 are:

$5,500 for Band 3; and

$4,700 for Band 2; and

$3,300 for Band 1.

The annual Band amount for a Band for a later year is worked out by:

multiplying the annual Band amount for that Band for the year before that later year by the factor that applies to the later year under subsection 40(3); and

disregarding any cents.

For each year from 1998 onwards, the Minister must:

work out the annual Band amounts for the year concerned; and

before the start of the year, publish a notice in the Gazette specifying those annual Band amounts and the factor that was used to work them out.