(1) The amount determined by the Minister under subsection 59(3) must not (subject to subsection (4)) be less than the amount worked out using the following formula:
Note: To work out the number of students at a school for a year, see sections 16 and 17.
(2) The old Commonwealth per student amount for a year after 2014 is indexed as follows:
(3) The amount determined by the Minister under subsection 59(3) must not be more than the total amount that would be payable to the State or Territory under section 32 for the year for all schools for which the approved authority is approved in that year.
(4) If the amount worked out under subsection (1) is more than the total amount referred to in subsection (3), the Minister must determine the total amount referred to in subsection (3).