Document ID: chunk:federal_register_of_legislation:C2005C00099:section:8:p8
Version: federal_register_of_legislation:C2005C00099
Segment Type: section
Provision Reference: s 8 (pt 8/10)
Character Range: 19577–22314

under this agreement with respect to which the amount is paid by the State, the interest to be calculated from the date of payment and compounded with half-yearly rests on each fifteenth day of January and of July.

(5) When on any fifteenth day of January or of July the payment due by the State Government under sub-clause (1) of this clause exceeds the amount by which the unrepaid balance of the relevant payment or advance together with unpaid interest on the payment or advance up to and including that date exceeds the total of the amounts paid by the State Government to the Australian Government in accordance with sub-clause (3) of this clause with respect to that payment or advance together with interest accrued on those amounts up to and including that date under sub-clause (4) of this clause, the State Government shall pay to the Australian Government the amount of the second-mentioned excess in lieu of the amount of the payment due under sub-clause (1) of this clause, and no further payment shall be required to be made by the State Government to the Australian Government under this clause in respect of that payment or advance.

Estimates

17. The State Government will prepare and submit to the Treasurer not later than the thirtieth day of April in each year, or by such other date or dates as the Treasurer may from time to time specify, statements showing the amounts, if any, that the State Government estimates it will request the Australian Government to provide under this agreement during the forthcoming financial year.

Financial Statements

18. The State Government shall—

    (a) ensure that full accounts and records are kept of all financial transactions, work done, and plant, stores, materials and equipment used or disposed of, in connexion with the carrying out of the works comprised in the approved programme.

    (b) until such time as the total amount of the financial assistance to be provided to the State Government under this agreement has been provided by the Australian Government, furnish to the Treasurer, as soon as possible after the completion of each financial year in which there is expenditure on the approved programme, a financial statement, in a form satisfactory to the Treasurer, showing expenditure up to the preceding thirtieth day of June, the latest estimate of the complete cost, and the estimated amounts of annual expenditure necessary to complete the approved programme.

Audit

19. (1) The accounts, books, vouchers, documents and other records of the State relating to the carrying out of the approved programme shall be subject to audit by the Auditor-General of the State or an auditor of the semi-governmental or other authority or instrumentality of the