Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p6
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 6/50)
Character Range: 83896–86579

due under Sub‑clause 4.1 (b).
    4.3 Times for payment
     The payments referred to in Sub‑clause 4.1 shall be made as follows:
        (a) the sum of forty‑two million dollars ($42 million) referred to in Sub‑clause 4.1 (a) on the Commencement Date by 11.00 A.M; and
        (b) the payments referred to in Sub‑clause 4.1 (b) at the times set out in Column 4 of Schedule A or within seven (7) days after receipt by the Bank of an invoice under Sub‑clause 4.2, whichever is the later.
    4.4 Checking of invoices by the Bank
       4.4.1 The Bank agrees that, upon receipt of an invoice referred to in Sub‑clause 4.2, it shall conduct a reasonable examination of such of its records as the Bank considers relevant to determine the correctness or otherwise of the invoice. If, following the examination, the Bank is of the opinion that the Commonwealth has omitted to claim sums to which the Commonwealth is entitled it shall immediately advise the Commonwealth in writing of the omission.
        4.4.2 Where an invoice omits to claim sums to which the Commonwealth is entitled and the Bank has advised the Commonwealth of the omission pursuant to Sub‑clause 4.4.1, the Commonwealth shall provide the Bank with a further written invoice in respect of the omitted sum, such invoice to be payable by the Bank within seven (7) days of receipt.
       4.5 Manner of payment
     The sums referred to in Sub‑clause 4.1 shall be paid by means of a Bank cheque made payable to the Receiver of Public Moneys, Department of Finance and shall be delivered by hand to the Receiver of Public Moneys, Department of Finance, 624 Bourke Street, Melbourne, or as may be otherwise decided by the Commonwealth and notified to the Bank.
    4.6 Resolution of disputes as to payments under Sub‑clause 4.1 (b).
     Where a dispute, question or difference has arisen between the Commonwealth and the Bank as to a sum payable under Sub‑clause 4.1 (b), the Bank shall pay to the Commonwealth the sum about which there is no dispute, question or difference and the matter that is in dispute may be referred to arbitration by one of the parties in accordance with Clause 24.
    4.7 Provision for possible refund of part or all of $42 million referred to in Clause 4.1 (a)
        4.7.1 The Commonwealth agrees that, pursuant to this Sub‑clause, the Bank may be entitled to a refund of part or all of the sum of $42 million referred to in Clause 4.1 (a) of this Agreement if, before 31 December 1995, the Commonwealth should:
          (a) pass legislation to reduce the benefits available to Entitled Persons under the Scheme;
          (b) pass legislation to change in a restrictive way the eligibility