Document ID: chunk:federal_register_of_legislation:C2014C00538:section:8:p7
Version: federal_register_of_legislation:C2014C00538
Segment Type: section
Provision Reference: s 8 (pt 7/15)
Character Range: 19021–21788

of the loan by which such moneys were borrowed or such other rate of interest as may be payable by the State to the Commonwealth under any agreement made or to be made between the Commonwealth and that State in respect of such moneys and such interest shall be payable by that State for the full term of that loan.
     (6) The rate of interest payable under sub‑clause (3) of this clause in respect of moneys borrowed by the Commonwealth on behalf of the Northern Territory shall be the full rate of interest payable by the Commonwealth in respect of the loan by which such moneys were borrowed or such other rate of interest as may be payable by the Northern Territory to the Commonwealth under any agreement made or to be made between the Commonwealth and the Northern Territory in respect of such moneys and such interest shall be payable by the Northern Territory for the full term of that loan.
     6(1) There shall be a trust account to be called the "Debt Retirement Reserve Trust Account".
     (2) The Commonwealth shall establish and maintain a separate account in the Debt Retirement Reserve Trust Account in respect of each State.
     (3) The Commonwealth shall establish and maintain a separate account in the Debt Retirement Reserve Trust Account in respect of the Northern Territory.
     (4) There shall be paid by the Commonwealth into each of those accounts in the Debt Retirement Reserve Trust Account established under sub‑clause 6(2):
      (a) amounts equal to the amounts received from the State under sub‑clause 7(2); and
      (b) amounts being the contributions by the Commonwealth under clause 8.
 (5) There shall be paid by the Commonwealth into the accounts in the Debt Retirement Reserve Trust Account established under sub‑clause 6(3):
      (a) amounts equal to the amounts received from the Northern Territory under sub‑clause 7(3); and
      (b) amounts being the contributions by the Commonwealth under clause 8.
     (6) Moneys standing to the credit of an account established in respect of a State in the Debt Retirement Reserve Trust Account shall be applied by the Commonwealth in connection with the purchase, redemption, including redemption on conversion, and repayment of securities of that State. The gross cost, in the case of purchase, or the cost at face value, in the case of redemption or repayment, shall be charged to the account established in respect of that State in the Debt Retirement Reserve Trust Account.
     (7) Moneys standing to the credit of the account established in respect of the Northern Territory in the Debt Retirement Reserve Trust Account shall be applied by the Commonwealth in connection with the purchase, redemption, including redemption on conversion, and repayment of securities of the