Victorian Current Acts Victorian Current Acts(1) The governing body of a post-secondary education institution must not spend or allow to be spent—
(a) any money paid to the institution by a student or a prospective student of the institution by way of a compulsory non-academic fee, subscription or charge; or
(b) any money which is profit made by the institution or an organisation of students in the course of providing facilities, services or activities funded wholly or partly by the money referred to in paragraph (a)—
except for providing facilities, services or activities of direct benefit to students at the institution.
(2) The governing body of a post-secondary education institution must establish procedures and sanctions to ensure that any money referred to in subsection (1) is spent or allowed to be spent in accordance with that subsection and, if spent or allowed to be spent in contravention of that subsection, is repaid to the governing body.