Under the Microsoft CAUDIT agreement, 32-bit operating systems for PCs may be upgraded (or downgraded) if used by Monash staff members (except those working in ancillary operations or Monash-controlled entities) and enrolled Monash students.
Q. Volume licensing only covers Windows operating system upgrades
A. Some people think that having a Volume Licence Agreement means they don't need to buy a licence for Windows when they want to install it on a new PC. This is not true. Volume licences can only be used to cover the upgrade of a PC once it has the initial operating system already installed. This is true of ALL types of volume licence agreement, including academic agreements."
Q. Can an operating system be transferred from an existing PC to a new PC?
A. It depends on the type of Windows software installed on your computer. Full-packaged retail versions of Windows software are generally transferable from one PC to another as long as the software is no longer installed on the original PC. An OEM software licence, however, may not be transferred or installed on another PC because it's tied to the original computer system on which it was installed, even if the PC is no longer in use.
http://www.microsoft.com/uk/windows/licensing/faq.mspx
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