Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p13
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 13/51)
Character Range: 194131–196960

Dispute as to Final Face Value
         3.10.1 In the event that the Bank disagrees with or disputes that the Final Face Value notified by the Corporation is the correct Final Face Value, it shall notify the Commonwealth in writing no later than thirty (30) days after:
            (a) receipt of the Corporation's calculation of the Final Face Value made pursuant to Sub‑clause 3.8; and
            (b) obtaining access to the documentation and information specified in Sub‑clause 3.9.1.
         3.10.2 Within fourteen (14) days of notice being given pursuant to Sub‑clause 3.10.1 the parties shall meet with a view to agreeing on the correct sum for the Final Face Value.
         3.10.3 In the event that the parties are unable to agree within twenty‑eight (28) days of first meeting, the parties will appoint an independent registered company auditor to conduct an audit of and determine the correct Final Face Value. In the event that the parties are unable to agree on the appointment of an independent auditor an auditor will be selected by the President of the Institute of Chartered Accountants in Australia. The determination of Final Face Value by an independent auditor pursuant to this Clause shall be conclusive and binding on both parties. The fees and expenses of the auditor shall be borne equally by the parties.
         3.10.4 If an auditor appointed pursuant to Sub‑clause 3.10.3 makes a determination prior to the date for payment fixed pursuant to Sub‑clauses 3.2.5 or, if applicable, Sub‑clause 3.4(b)(ii) then the balance payable pursuant to the applicable Sub‑clause shall be adjusted, if necessary, by reference to the determination. In the event that the procedures set out in Sub‑clauses 3.9, 3.10.1, 3.10.2 and 3.10.3 are not completed prior to such date then any adjustment required by Sub‑clause 3.8.1 or payment required by Sub‑clause 3.8.2 shall be based on the amount notified pursuant to Sub‑clause 3.8. In the event that the auditor's determination requires a further adjustment, the amount payable by either party as a result of the audit shall be paid, together with interest calculated at the Interest Rate, to the other party forthwith.

    4. VESTING OF PORTFOLIO ASSETS AND PAYMENT OF SUMS DEPOSITED BY BORROWERS
    4.1 Vesting
     On the Vesting Dates the Corporation's interests, title, rights and obligations in the Portfolio Assets shall progressively vest in the Bank by operation of the amending Act in the manner provided for under the Agreement and it is a condition of this Agreement that the Amending Act shall be effective to so transfer those interests, title, rights and obligations from the Corporation to the Bank.
    4.2 Bank bound by Portfolio Assets
     The Bank hereby acknowledges and agrees that the Amending Act should bind it, as and from the Vesting Dates,