Financial year
s 26
26. The financial year of the Institute begins on 1 April of each year and ends on 31 March of the succeeding year.
Institute of Technical Education Act 1992 PART 6 — FINANCIAL PROVISIONS
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Grants
s 27
27. For the purpose of enabling the Institute to carry out its functions under this Act, the Minister may make grants‑in‑aid to the Institute out of moneys to be provided by Parliament.
Loans
s 28
28. The Institute may, for the purposes of this Act, raise loans from the Government or, with the consent of the Minister, from any source.
Issue of shares, etc.
s 28A
28A. As a consequence of the vesting of any property, rights or liabilities of the Government in the Institute under this Act, or of any capital injection or other investment by the Government in the Institute in accordance with any written law, the Institute must issue such shares or other securities to the Minister for Finance as that Minister may direct.[5/2002]
Power of investment
s 29
29. The Institute may invest its moneys in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965.[45/2004]
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