Financial Framework Legislation Amendment Act (No. 2) 2012
103After subsection 30A(2A)
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103 After subsection 30A(2A)
(2B) If:
(a) an amount is paid to the Corporation under paragraph (1)(b) in a financial year; and
(b) the amount was calculated, in whole or in part, under subsection (2) on the basis of:
(i) interim Commonwealth GVP for the financial year; or
(ii) interim State or Territory GVP for the financial year for a State or Territory; or
(iii) interim total GVP for the financial year; and
(c) before the end of 31 October next following the financial year, the Minister determines an amount that is:
(i) if subparagraph (b)(i) applies—the final Commonwealth GVP for the financial year; or
(ii) if subparagraph (b)(ii) applies—the final State or Territory GVP for the financial year for that State or Territory; or
(iii) if subparagraph (b)(iii) applies—the final total GVP for the financial year; and
(d) as at the end of 31 October next following the financial year, the total amount paid to the Corporation under paragraph (1)(b) in the financial year exceeds the amount that would have been paid to the Corporation under that paragraph in the financial year if:
(i) each reference in subsection (2) to interim Commonwealth GVP were a reference to the amount of final Commonwealth GVP so determined; and
(ii) each reference in subsection (2) to interim State or Territory GVP were a reference to the amount of final State or Territory GVP so determined; and
(iii) each reference in subsection (2) to interim total GVP were a reference to the amount of final total GVP so determined;
the Corporation must pay to the Commonwealth an amount equal to the excess.
(2C) If:
(a) an amount is paid to the Corporation under paragraph (1)(b) in a financial year; and
(b) the amount was calculated, in whole or in part, under subsection (2) on the basis of:
(i) interim Commonwealth GVP for the financial year; or
(ii) interim State or Territory GVP for the financial year for a State or Territory; or
(iii) interim total GVP for the financial year; and
(c) before the end of 31 October next following the financial year, the Minister determines an amount that is:
(i) if subparagraph (b)(i) applies—the final Commonwealth GVP for the financial year; or
(ii) if subparagraph (b)(ii) applies—the final State or Territory GVP for the financial year for that State or Territory; or
(iii) if subparagraph (b)(iii) applies—the final total GVP for the financial year; and
(d) as at the end of 31 October next following the financial year, the total amount paid to the Corporation under paragraph (1)(b) in the financial year falls short of the amount that would have been paid to the Corporation under that paragraph in the financial year if: