Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p75
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 189483–192293

chargeable which has been paid by the Commonwealth, and pay to the Commonwealth any interest or like compensation received by the Bank in connection with that part of the refunded stamp duty paid by the Commonwealth.
         19.2.6 If the Commonwealth does not request the Bank to lodge any objection or appeal within the time period specified in Subclause 19.2.2 or to commence legal proceedings after an unsuccessful objection or appeal before the last day for payment of stamp duty prior to the Bank becoming liable to pay any fine or penalty, the Bank shall pay the stamp duty assessed and, subject to Sub-clause 19.2.8, the Commonwealth shall reimburse the Bank within fourteen (14) days of a request for payment.
         19.2.7 At the time of informing the Commonwealth of the outcome of any legal proceedings under Sub-clause 19.2.3 (e), the Bank shall, where it is determined that stamp duty is payable, notify the Commonwealth of the remaining amount payable under the indemnity given by the Commonwealth pursuant to Subclause 19.2.3. Upon receipt of such notification, the Commonwealth shall pay the Bank the amount payable under the indemnity and, subject to Sub-clause 19.2.8, such stamp duty.

SCHEDULE 1—continued

         19.2.8 The Commonwealth shall only be obliged to pay or reimburse the Bank in respect of stamp duty to the extent that the sum of such stamp duty and any other stamp duty paid by the Bank on this Agreement and the transfer of Portfolio Assets to the Bank exceeds $500,000.
    19.3 Commonwealth to facilitate the transfer
    The Commonwealth shall inform the Governments of all States and Territories of the proposed vesting of Portfolio Assets in the Bank and shall use its best endeavours to ensure that administrative arrangements are made by those Governments to facilitate the substitution of the Bank as the mortgagee (or registered proprietor or registered lessee under a Crown lease as appropriate) of all Portfolio Assets.
    19.4 Fees or charges necessary to give effect to the transfer of Portfolio Assets shall be borne by the Commonwealth
    Any other fees or charges, including lodgement or registration fees, charged by any State or Territory the payment of which is necessary to give effect to the transfer of Portfolio Assets to the Bank pursuant to the Amending Act shall be borne by the Commonwealth.
    20. LEGAL AND ACCOUNTING COSTS
    The parties hereto shall bear their own legal and accounting costs of and incidental to the preparation, execution and implementation of this Agreement.
    21. APPLICABLE LAW
    This agreement shall be governed by and construed in accordance with the law for the time being in force in the Australian Capital Territory and the parties hereto agree to submit to the non-exclusive jurisdiction of the Courts