Authorised financial assistance—financial viability
15 Authorised financial assistance—financial viability
The Minister may refuse to authorise, or may delay, a payment to a State under this Act for a non‑government body (including a non‑government school), or the relevant authority of such a body, if:
either (or both) of the following applies:
the body or authority is a body corporate that is being wound up;
the affairs of the body or authority are under any form of external control (for example, the control of a manager) under a law of the Commonwealth or a State; or
the Minister considers that:
the liabilities of the body or authority are greater than its assets; or
the body or authority is (and is likely to continue for a substantial period to be) unable to pay its debts as and when they fall due for payment; or
a law of the Commonwealth or a State requires the body or authority to be audited, and the Minister determines that this paragraph applies because the relevant audit:
is expressed to be qualified; or
expresses concern about the financial viability of the body or authority.
A determination made under paragraph (1)(c) is not a legislative instrument, but is a disallowable instrument for the purposes of section 46B of the Acts Interpretation Act 1901.
Section 46B of the Acts Interpretation Act 1901 was repealed by the Acts and Instruments (Framework Reform) Act 2015. Item 179 of Schedule 1 to that Act includes certain saving and transitional provisions for section 46B.
This Act’s bill:Explanatory memorandumSecond reading speech
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