Commonwealth Numbered Acts Commonwealth Numbered Acts(1) This section sets out the ongoing funding requirements for an approved authority for a school for the purposes of subparagraph 73(1)(b)(ii) and paragraph 81(1)(a).
(2) The ongoing funding requirements for all approved authorities are the following:
(a) the approved authority deals, in accordance with the regulations, with financial assistance that is payable under Division 2 or 5 of Part 3 (recurrent funding for participating schools), Part 4 (recurrent funding for non-participating schools), or Division 2 or 3 of Part 5 (capital and special circumstances funding) to the authority;
(b) the approved authority complies with requirements prescribed by the regulations in relation to monitoring the authority's compliance with this Act, and with any implementation plan required by Part 7.
(3) The ongoing funding requirements for an approved authority for more than one participating school are also:
(a) to distribute all financial assistance received in accordance with Division 2 or 5 of Part 3, or from a State or Territory, in accordance with a needs-based funding arrangement that complies with any requirements prescribed by the regulations; and
(b) to comply with Part 7 (implementation plans).