76
In forceCommonwealth takeover of obligations—payments by the FAC to the Commonwealth
Part 10FAC’s debts
Division 3Other borrowing transactions
76 Commonwealth takeover of obligations—payments by the FAC to the Commonwealth
(1)
This section applies if the FAC’s obligations under a borrowing transaction are taken over under section 73 or 74.
(2)
The FAC must pay the Commonwealth an amount determined in writing by the Finance Minister.
(3)
If the FAC pays the Commonwealth an amount under subsection (2), the Commonwealth must pay the FAC an amount equal to that amount.
(4)
The amount payable under subsection (2) may be set‑off against the amount payable under subsection (3).
(5)
The amount payable under subsection (3) is payable by way of the provision of capital.
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