SCHEDULE 1COMMISSION FOR TERTIARY EDUCATION AND RESEARCH
I117Meaning of “financial year” and “academic year”
1
In paragraphs 15 and 16 “financial year” means—
a
the period beginning on the day on which section 1 comes into force and ending on the following 31 March;
b
subsequently, each successive period of 12 months.
2
In paragraph 16 “academic year” means the period of 12 months ending on 31 August in the financial year.