Document ID: chunk:federal_register_of_legislation:C2014C00538:section:8:p4
Version: federal_register_of_legislation:C2014C00538
Segment Type: section
Provision Reference: s 8 (pt 4/15)
Character Range: 11378–14358

less an amount equal to the sum of the balance standing to the credit of the Territory—
         (C) in relation to the period until the establishment of the Debt Retirement Reserve Trust Account, in the Northern Territory Debt Sinking Fund; and
         (D) thereafter, in the Debt Retirement Reserve Trust Account;

    "Premier" includes, in relation to clause 4, the Chief Minister of—
      (a) the Australian Capital Territory; and
      (b) the Northern Territory of Australia,

    as the case may be;

    "public debt" means
      (a) in relation to a State, the aggregate of the face value of the securities issued or created by the State or issued or created in respect of the State in accordance with the Principal Agreement that have not been purchased, redeemed or otherwise repaid or in respect of which the State has not otherwise been freed and discharged from liability; and
      (b) in relation to the Northern Territory, the aggregate of the face value of the securities issued or created in respect of the Northern Territory in accordance with the 1986 Arrangements that have not been purchased, redeemed or otherwise repaid or in respect of which the Northern Territory has not otherwise been freed and discharged from liability;

    "securities" means—
      (a) where the context involves a State;
       Inscribed Stock and Bonds
       Instalment Stock
       Registered Stock
       Funded Stock
       Stock payable to bearer
       Special Bonds
       Australian Savings Bonds

    which were issued or created by a State and taken over by the Commonwealth under the Principal Agreement or issued or created in respect of a State; and
      (b) where the context involves the Northern Territory;
       Inscribed Stock and Bonds
       Registered Stock
       Stock payable to bearer
       Australian Savings Bonds
    which were issued or created in respect of the Northern Territory under the 1986 Arrangements;

    "the Commission" means the National Debt Commission continued in existence by the National Debt Sinking Fund Act 1966;

    "the Loan Council" means the Australian Loan Council continued in existence pursuant to this Agreement;

    "the Sinking Fund" means the National Debt Sinking Fund created by the National Debt Sinking Fund Act 1966; and

    "the 1986 Arrangements" means the Arrangements entered into between the Commonwealth of Australia and the Northern Territory dated the 26th May 1986 under which, among other things, there was created the Northern Territory Debt Sinking Fund within the Commonwealth Trust Fund.
     (2) In this Agreement—
      (a) a reference to a year is, unless the contrary intention appears, a reference to a financial year commencing on a 1st July;
      (b) the expression "in writing" includes any mode of representing or reproducing words and figures in a written form; and
      (c) except where inconsistent with the context, words in the singular include the plural and words in the