Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p8
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 8/51)
Character Range: 181438–184293

11, the Commonwealth further agrees to pay to the Bank a Subsidy with respect to Specified Portfolio Assets and Subsidised Advances.
    2.4 Bank to act in accordance with Subsidy Scheme
    The Bank further agrees to be bound by and act at all times in accordance with the Subsidy Scheme.
    2.5 Provision of Subsidised Advances
    The Bank further agrees to provide Subsidised Advances in accordance with Clause 7.
    2.6 Provision of Instalment Relief and effecting Transfer of Land and Subsidy
    The Bank further agrees to provide Instalment Relief in accordance with
    Clause 8 and to give effect to the Commonwealth's consent to Transfer of Land and Subsidy in accordance with Clause 8.
    2.7 Payment of deposits
    Pursuant to Sub‑clause 4.7, the Commonwealth agrees to pay to the Bank certain sums deposited with the Corporation by Borrowers.
    2.8 Exclusive right of Bank to receipt of Subsidy
    Pursuant to Clause 13, the Commonwealth agrees to grant to the Bank the exclusive right to receipt of Subsidy in respect of the advances and other benefits as described herein.

    3. CONSIDERATION AND PAYMENT
    3.1 Calculation of Consideration
    The Bank hereby agrees to pay to the Commonwealth the Consideration at the times and in the manner referred to in this Clause.
         3.1.1 The Consideration referred to in Sub‑clause 3.1 is the sum of:
            (a) one hundred million dollars ($100,000,000); and
            (b) the Total Face Value; and
            (c) interest calculated on a weekly basis at the Interest Rate as defined below on that part of the Total Face Value which has not been paid by the Bank to the Commonwealth as from the Interest Commencement Date to the date that payment of that part of the Consideration is received by the Commonwealth.
         3.1.2 For the purposes of this Clause, the words:
            (a) "Face Value" shall mean
              (i) if all the relevant Vesting Dates occur prior to the Interest Commencement Date the Principal Sum of the Specified Portfolio Assets as at their relevant Vesting Dates; or
              (ii) if one or more of the relevant vesting Dates falls after the Interest Commencement Date the Principal Sum of the Specified Portfolio Assets which vested prior to the Interest Commencement Date as at their relevant Vesting Dates and the Principal Sum of all Potential Portfolio Assets as at the Interest Commencement Date.
            (b) "Final Face Value" shall mean the Principal Sum of the Specified Portfolio Assets as at the relevant Vesting Dates whenever they occur.
            (c) "Interest Commencement Date" means 30 April 1989 or, if the Date of Proclamation is a date between 1 January 1989 and 30 June 1989, the date which is one hundred and twenty (120) days after the Date of Proclamation.
            (d) "Interest Rate" shall be the