Document ID: chunk:federal_register_of_legislation:C2014C00538:section:8:p9
Version: federal_register_of_legislation:C2014C00538
Segment Type: section
Provision Reference: s 8 (pt 9/15)
Character Range: 24029–26661

Trust Account, to the Commission for credit to the account of the State in the Sinking Fund, and
      (b) thereafter, to the Commonwealth for credit to the account established in respect of the State in the Debt Retirement Reserve Trust Account

    such that the contribution, together with—
      (c) in the case of the period referred to in paragraph (a),
          (i) amounts of interest referred to in sub‑clause 12A(7) of the Principal Agreement, preserved by sub‑clause 16(2), in respect of the relevant year or, where the Debt Retirement Reserve Trust Account has operated for only part of the year, the other part of that year;
          (ii) contributions by the Commonwealth pursuant to clause 8 as it relates to the State in respect of the relevant year or, where the Debt Retirement Reserve Trust Account has operated for only part of the year, the other part of that year; and
          (iii) the moneys standing to the credit of an account in respect of the State in the Sinking Fund as at the commencement of that year including where the Debt Retirement Reserve Trust Account has operated for only part of the year; and
      (d) in the case of the period referred to in paragraph (b),
          (i) amounts equal to interest referred to in sub‑clause 6(8) in respect of the relevant year, or where the Debt Retirement Reserve Trust Account has operated for only part of the year, the interest referred to in sub‑clause 6(8) for that part of that year;
          (ii) contributions by the Commonwealth pursuant to clause 8 in respect of the relevant year or where the Debt Retirement Reserve Trust Account has operated for only part of the year, the contribution made into the Debt Retirement Reserve Trust Account for that part of the year; and
          (iii) the moneys standing at the commencement of the relevant year to the credit of an account in respect of the State in the Debt Retirement Reserve Trust Account,

    is equal to the total of those parts of its public debt which falls to be redeemed or is repaid or purchased in that year, or any greater amount which the State elects to have redeemed, repaid or purchased in that year, but so that in any event that contribution shall not be less than an amount equal to 0.85 per centum of the net public debt of the State as at the 30th June immediately preceding the year in which the contribution is payable.
     (3) The Northern Territory shall pay a contribution in respect of each year—
      (a) in respect of the period from 1 July 1990 until the establishment of the Debt Retirement Reserve Trust Account, to the Commonwealth for credit to the