Liability of Commonwealth to corporation
1061ZZEL Liability of Commonwealth to corporation
The Commonwealth is liable to pay to the corporation an amount worked out, as at the earlier of:
the time when the corporation stopped making payments under the contract; or
the end of the period of 4 weeks referred to in paragraph 1061ZZEK(1)(b);
using the formula:
Start formula Principal sum minus open bracket Amounts repaid plus Amounts notionally repaid close bracket end formula
In this section:
amounts notionally repaid means the total of the amounts notionally repaid before the notice was given.
amounts repaid means the total of the amounts repaid under the contract before the notice was given.
principal sum means the principal sum at the time when the notice was given.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.