Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p43
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 106978–109738

than thirty (30) days after:
          (a) receipt of the Corporation's calculation of the Face Value made pursuant to Sub-clause 3.5; and
          (b) obtaining access to the documentation and information specified in Sub-clause 3.6.1.
       3.7.2 Within fourteen (14) days of notice being given pursuant to Sub-clause 3.7.1 the parties shall meet with a view to agreeing on the correct sum for the Face Value.

SCHEDULE 1—continued

       3.7.3 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 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 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.
       3.7.4 If an auditor appointed pursuant to Sub-clause 3.7.3 makes a determination prior to the date for payment fixed pursuant to Sub-clause 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 3.6, 3.7.1, 3.7.2 and 3.7.3 are not completed prior to such date then the Bank shall pay to the Commonwealth the Total Face Value notified by the Corporation pursuant to Sub-clause 3.5, together with interest, in the manner set out in Sub-clause 3.2.5 or, if applicable, Sub-clause 3.4 (b) (ii). In the event that the auditor's determination requires an adjustment to the sum paid pursuant to Sub-clause 3.2.5 or, if applicable, Sub-clause 3.4 (b) (ii) 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.
3.8 Vesting Date falling after Interest Commencement Date
   In the event that one or more of the Vesting Dates falls after the Interest Commencement Date the Corporation shall calculate the Final Face Value and shall notify the Bank of such Final Face Value within seven (7) days of the relevant Vesting Date.
       3.8.1 If amounts are notified pursuant to Sub-clause 3.8 prior to payment of the balance of the Total Face Value pursuant to Sub-clause 3.2.5 or, if applicable, Sub-clause 3.4 (b) (ii) then the sum payable by the Bank pursuant to the applicable Subclause shall be reduced by the sum of any amount by which the Total Face Value exceeds the Total Final Face Value and