Document ID: chunk:federal_register_of_legislation:C2004A00603:clause:1_62a
Version: federal_register_of_legislation:C2004A00603
Segment Type: clause
Provision Reference: sch 1 cl 62A
Character Range: 2978–3678

62A  Guarantee fees

 (1) The Minister may inform EFIC in writing of arrangements that are to apply to EFIC in relation to guarantee fees to be paid by EFIC to the Commonwealth in respect of short‑term insurance contracts entered into by EFIC.

 (2) The arrangements may specify:
 (a) the period in respect of which a guarantee fee is payable; and
 (b) the amount of the fee, or the way in which it is to be worked out; and
 (c) the period within which the amount must be paid by EFIC to the Commonwealth.

 (3) EFIC must pay guarantee fees to the Commonwealth in accordance with the arrangements.

 (4) The Minister may at any time, in writing, vary or revoke arrangements made under this section.