What TEC Investment Round decisions require Board approval and why?

Answer

I have been informed by the Tertiary Education Commission that unless delegated, all Investment Round decisions require Board approval. The Board has delegated power to Chief Executive and Deputy Chief Executive Delivery to assess whether individual initiatives less than or equal to $2m per TEO included in a proposed plan submitted by a TEO (other than a TEO with a final residual risk rating of extreme) will receive funding approval by applying the assessment criteria prescribed in section 424. After applying the assessment criteria, decide to: (a) fund (in whole or in part) all or some of the tertiary education programmes and activities described in a proposed plan for which funding is sought (section 425(2)(a)); (b) not fund any of the tertiary education programmes or activities described in the proposed plan for which funding is sought (section 425(2)(b)).