Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p39
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 96989–99767

the thing may be done on the first day following which is not a Saturday, a Sunday or a public holiday or bank holiday in that place.
       1.2.8 Where in this Agreement any reference to time occurs, such time shall, unless it is otherwise specifically stated, be deemed in each State or part of the Commonwealth to mean the standard or legal time in that State or part of the Commonwealth.
       1.2.9 A reference to a Clause shall be a reference to a Clause in this Agreement.
       1.2.10 A reference to the parties shall be a reference to the parties to this Agreement.
       1.2.11 All sums of money and all payments made under this Agreement shall be in Australian dollars.
2. AGREEMENT
  2.1 Commonwealth to vest Portfolio Assets
    Subject to Clause 4, all of the Corporation's interests, rights, title and obligations in the Portfolio Assets will vest in the Bank pursuant to the Amending Act for the Consideration referred to in Clause 3.
  2.2 Assumption of obligations by Bank
    Subject to Clause 4, the Bank agrees as and from the relevant Vesting Date to assume the burden of the obligations of the Corporation under the Portfolio Assets.
  2.3 Payment of Subsidy
    Pursuant to Clause 11, the Commonwealth further agrees to pay to the Bank a Subsidy with respect to Specified Portfolio Assets and Subsidised Advances.
  2.4 Bank to act in accordance with Subsidy Scheme
    The Bank further agrees to be bound by and act at all times in accordance with the Subsidy Scheme.
  2.5 Provision of Subsidised Advances
    The Bank further agrees to provide Subsidised Advances in accordance with Clause 7.

SCHEDULE 1—continued

  2.6 Provision of Instalment Relief and effecting Transfer of Land and Subsidy
    The Bank further agrees to provide Instalment Relief in accordance with Clause 8 and to give effect to the Commonwealth's consent to Transfer of Land and Subsidy in accordance with Clause 8.
  2.7 Payment of deposits
    Pursuant to Sub-clause 4.7, the Commonwealth agrees to pay to the Bank certain sums deposited with the Corporation by Borrowers.
  2.8 Exclusive right of Bank to receipt of Subsidy
    Pursuant to Clause 13, the Commonwealth agrees to grant to the Bank the exclusive right to receipt of Subsidy in respect of the advances and other benefits as described herein.

3. CONSIDERATION AND PAYMENT

  3.1 Calculation of Consideration
    The Bank hereby agrees to pay to the Commonwealth the Consideration at the times and in the manner referred to in this Clause.
    3.1.1 The Consideration referred to in Sub-clause 3.1 is the sum of:
           (a) one hundred million dollars ($100,000,000); and
           (b) the Total Face Value; and
           (c) interest calculated on a weekly basis at the Interest Rate as defined below