Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Treasurer shall pay to the several States of the Commonwealth, in proportion to the number of their people, any surplus revenue in his hands at the close of the financial year commencing on the first day of July One thousand nine hundred and twenty - seven, and at the close of each financial year thereafter.
(2) For the purposes of this section, the number of the people of a State shall be deemed to be the number as ascertained according to the laws of the Commonwealth by the Commonwealth Statistician as at the thirty - first day of December in the financial year in respect of which a payment under this section is to be made to that State.