Document ID: chunk:federal_register_of_legislation:C2004A05163:clause:1_66a:p2
Version: federal_register_of_legislation:C2004A05163
Segment Type: clause
Provision Reference: sch 1 cl 66A (pt 2/2)
Character Range: 4800–5827

(5) EFIC must pay $40,000,000 from its reserves to the Commonwealth.

EFIC may also have to pay Commonwealth a proportion of DIFF loan risk premiums

 (6) The Minister for Finance may direct EFIC to pay to the Commonwealth a specified amount representing part of the risk premiums paid in relation to the DIFF loans. The amount must not exceed what is necessary to give the Commonwealth an appropriate proportion of the risk premiums.

Commonwealth to pay EFIC a fee for administering DIFF loans

 (7) The Commonwealth is liable to pay to EFIC an administration fee in respect of EFIC's costs in administering the DIFF loans after the commencement of this section. The amount of the administration fee, and how and when it is to be paid, are to be as directed by the Minister for Finance.

Commonwealth and EFIC may set off amounts owed

 (8) Amounts that the Commonwealth and EFIC owe to each other under this section may be set off.

Directions under this section

 (9) A direction under this section is to be in writing.