Document ID: chunk:federal_register_of_legislation:C2014C00538:section:8:p12
Version: federal_register_of_legislation:C2014C00538
Segment Type: section
Provision Reference: s 8 (pt 12/15)
Character Range: 31332–34206

and at such times as agreed between the Commonwealth and the Northern Territory, that Territory for the excess, as assessed by agreement between the Commonwealth and that Territory, of the amount of the costs to that Territory incurred from 1 July 1990 in respect of the redemption, repayment and purchase, by the Commonwealth of the securities from that date over the amount of the costs that would have been so incurred under the 1986 Arrangements.
     12(1) Each State and the Northern Territory shall repay to the Commonwealth all expenses incurred or payments made by the Commonwealth in the performance of this Agreement in relation to the State and the Northern Territory, including the following expenses and payments:—
      (a) Loan flotation charges;
      (b) Management charges;
      (c) Stamp duties on transfer of securities;
      (d) Commission on payment of interest;
      (e) Expenses incurred in the conversion, renewal, redemption or consolidation of loans; and
      (f) Exchange on transference of moneys.
     (2) Unless it is otherwise agreed between the Commonwealth and a State, the Commonwealth will not do anything in connection with a loan of that State existing on the 30th June, 1927, or raised thereafter pursuant to the Principal Agreement, which, if done by that State, would be a breach of any now existing agreement by that State with any Bank.
     (3) A certificate by the Auditor‑General of the Commonwealth stating the amount to be repaid by a State to the Commonwealth and the matter in respect of which the repayment is to be made shall, in the event of a dispute, be conclusive as to the amount and matter stated.
     13 Each State agrees with the Commonwealth that it will by the faithful performance of its obligations under this Agreement indemnify the Commonwealth against all liabilities whatsoever in respect of the public debt of that State (other than the liabilities of the Commonwealth under this Agreement to pay interest and to make sinking fund contributions or, after its establishment, contributions to the Debt Retirement Reserve Trust Account), not falling payable under the Principal Agreement prior to the 1 July 1990 in respect of which this Agreement provides that sinking fund contributions or, after its establishment, contributions to the Debt Retirement Reserve Trust Account shall be made.
     14 The Northern Territory agrees with the Commonwealth that it will by the faithful performance of its obligations under this Agreement indemnify the Commonwealth against all liabilities whatsoever in respect of all loans of that Territory for which this Agreement provides that, after its establishment, contributions to the Debt Retirement Reserve Trust Account shall be made.
     15 Separate accounts shall be kept by the Commonwealth for each State and, so far as relevant, for the Northern Territory