sec.70Payment of tax equivalents and dividends

### sec.70 Payment of tax equivalents and dividends This section applies if the accountable officer of a department has entered into an arrangement with the Treasurer about a business unit within the department and, under the arrangement, the accountable officer must pay— an amount decided by applying the tax equivalents manual to the business unit (the tax equivalent ); or an amount decided under the arrangement as a dividend (the dividend ). If the accountable officer has not paid the tax equivalent or dividend under the arrangement, and within the time stated in the arrangement, the Treasurer may, by notice given to the accountable officer, require the officer to pay the Treasurer the tax equivalent or dividend. The notice must state— the amount of the tax equivalent or dividend; and when the tax equivalent or dividend must be paid to the Treasurer. The accountable officer must comply with the notice. This section does not apply to the official secretary, the Clerk of the Parliament or an accountable officer prescribed, in a regulation made under section 65 (4) , for an entity mentioned in the regulation. In this section— tax equivalents manual means the tax equivalents manual issued by the Treasurer under the Government Owned Corporations Act 1993 , section 129 . (sec.70-ssec.1) This section applies if the accountable officer of a department has entered into an arrangement with the Treasurer about a business unit within the department and, under the arrangement, the accountable officer must pay— an amount decided by applying the tax equivalents manual to the business unit (the tax equivalent ); or an amount decided under the arrangement as a dividend (the dividend ). (sec.70-ssec.2) If the accountable officer has not paid the tax equivalent or dividend under the arrangement, and within the time stated in the arrangement, the Treasurer may, by notice given to the accountable officer, require the officer to pay the Treasurer the tax equivalent or dividend. (sec.70-ssec.3) The notice must state— the amount of the tax equivalent or dividend; and when the tax equivalent or dividend must be paid to the Treasurer. (sec.70-ssec.4) The accountable officer must comply with the notice. (sec.70-ssec.5) This section does not apply to the official secretary, the Clerk of the Parliament or an accountable officer prescribed, in a regulation made under section 65 (4) , for an entity mentioned in the regulation. (sec.70-ssec.6) In this section— tax equivalents manual means the tax equivalents manual issued by the Treasurer under the Government Owned Corporations Act 1993 , section 129 . - (a) an amount decided by applying the tax equivalents manual to the business unit (the tax equivalent ); or - (b) an amount decided under the arrangement as a dividend (the dividend ). - (a) the amount of the tax equivalent or dividend; and - (b) when the tax equivalent or dividend must be paid to the Treasurer.