Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p32
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 32/50)
Character Range: 149835–152633

pursuant to Sub‑clause 4.1 (a).
        29.5.3 Upon the termination of this Agreement, the Bank shall be obliged to complete all outstanding applications for Housing Loans already submitted by Entitled Persons and Entitled Persons and their spouses, where appropriate, as though the agreement had not been terminated.
        29.5.4 All covenants and agreements by either party which by their terms or by reasonable implication are to be performed in whole or in part after the termination of this Agreement shall survive such termination including the duties arising pursuant to Clause 25.
        29.5.5 Except as may otherwise be provided for in this Sub‑clause, the termination of this Agreement for any reason:
           (a) shall not abrogate, impair, release or extinguish any debt, obligation or liability of one party to the other party which may have accrued hereunder including without limitation any such debt, obligation or liability which was the cause of termination or arose out of such cause; and
           (b) shall be without prejudice to any right or remedy which shall have accrued or which may accrue thereafter in favour of either party.
    29.6 Interest payable on moneys over‑due
        29.6.1 Unless otherwise provided, if either party defaults in the payment of any moneys due to the other party under this Agreement the party in default shall, without prejudice to any other rights of the other party, pay on demand interest on the moneys due. Such interest shall be paid at a rate per annum equal to the Benchmark Rate as at the date of default plus 5 per cent and shall be calculated from the date the moneys are due until they are paid.
        29.6.2 The parties acknowledge that this Sub‑clause shall not apply to:
           (a) payments of Subsidy by the Commonwealth; or
           (b) any refund made pursuant to Sub‑clause 4.7 of the $42 million referred to in Sub‑clause 4.1 (a) until any sum is due under Sub‑clause 24.5 (d).

    30. AUDIT
    30.1 Report by external auditors of Bank
    The Bank agrees to provide to the Commonwealth within two (2) months of the Commencement Date and prior to the end of each Calendar Year in which Subsidy is paid to the Bank under this Agreement, a report by the Bank's external auditors advising as to the extent to which, in their opinion, the Bank's systems for maintaining data concerning Subsidised Loans can be relied upon and whether the Bank's accounts and records concerning Subsidised Loans have been properly and accurately maintained.
    30.2 Qualified Reports
    If the external auditors' opinion is qualified in any respect the reasons for such qualification shall be specified in the report and the Bank agrees to take immediate action to remedy the matters specified and to obtain a further report