This Part sets out the financial assistance that is payable by the Commonwealth to States and Territories under this Act, and the conditions that apply when that financial assistance is provided.

The conditions include requiring States and Territories to implement national policy initiatives for school education, as well as requiring a State or Territory to give any financial assistance provided to the State or Territory to the appropriate approved authority, capital grants authority, block grant authority or non - government representative body.

The Minister may determine the amounts and timing of individual payments of financial assistance.