Western Australian Consolidated Acts

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BARROW ISLAND ROYALTY TRUST ACCOUNT ACT 1985 - SECT 7

7 .         Adjustment of payments

        (1)         Notwithstanding section 6(1)(a), the Commonwealth share of a refundable amount may be paid to the lessee from any amount standing to the credit of the Account under section 5(a) that is payable to the Commonwealth under section 6(1)(a).

        (2)         Notwithstanding section 6(1)(b), the State share of a refundable amount may be paid to the lessee from any amount standing to the credit of the Account under section 5(a) that is payable to the credit of the Consolidated Account under section 6(1)(b).

        (3)         Notwithstanding section 6(1) or (2), where the State has paid the Commonwealth share of a refundable amount otherwise than from the Account the State may obtain reimbursement in one of the following manners — 

            (a)         an amount equal to the Commonwealth share may be deducted from any amount standing to the credit of the Account under section 5(a) that is payable to the Commonwealth under section 6(1)(a) and the amount so deducted may be credited to the Consolidated Account; or

            (b)         if an amount is credited to the Account under section 5(b) in respect of the Commonwealth share, that amount may be credited to the Consolidated Account.

        (4)         Notwithstanding section 6(2) where — 

            (a)         the Commonwealth share of a refundable amount has been paid to the lessee under subsection (1); or

            (b)         the State has obtained reimbursement under subsection (3)(a) for the payment of the Commonwealth share of a refundable amount,

                and an amount is credited to the Account under section 5(b) in respect of that Commonwealth share, that amount shall be repaid to the Commonwealth.

        [Section 7 amended by No. 6 of 1993 s. 11; No. 49 of 1996 s. 64; No. 77 of 2006 s. 4.]



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