Commonwealth Numbered Acts

HOUSING ASSISTANCE ACT 1973 No. 30 of 1973 - SECT 7

7. (1) Interest from the date on which each amount is paid to a State under
section 4 accrues at the rate of four per centum per annum on so much of the
amount as is outstanding from time to time.

(2) The amount, or the sum of the amounts, paid to a State under section 4
together with the interest accruing on that amount or the sum of those amounts
after 30th June, 1973, is payable to the Commonwealth by the State by
fifty-three equal annual instalments.

(3) A State shall pay to the Commonwealth-

   (a)  the amount of the interest that accrues in accordance with sub-section
        (1) in respect of an amount in respect of the period commencing on the
        date on which the amount was paid to the State under section 4 and
        ending on 30th June, 1973, on or before that last-mentioned date; and

   (b)  the first of the annual instalments referred to in sub-section (2) on
        or before 30th June, 1974, and a further instalment on or before each
        subsequent 30th June.