9Trustees to pay interest

9 Trustees to pay interest

(1)  [Section 9 Subsection (1) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] *[Section 9 Subsection (1) amended by No. 55 of 1965, s. 3 and Sched. 1 ]*The Trustees of the River Clyde shall, out of the money at the disposal of such Trustees, pay annually to the Public Account a sum equal to 5 per cent on one-half of the cost of all works erected or established for conserving the water in Lake Sorell or Lake Crescent under the provisions of this Act, and a sum equal to 5 per cent on the cost of any works constructed for the purpose of conveying water directly from Lake Sorell to the River Clyde.

(2)  [Section 9 Subsection (2) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] *[Section 9 Subsection (2) amended by No. 55 of 1965, s. 3 and Sched. 1 ]*The Trustees of the Midland Water District shall, out of the money at the disposal of such Trustees, pay annually to the Public Account a sum equal to 5 per cent on one-half of the cost of all works erected or established for conserving the water in Lake Sorell and Lake Crescent, under the provisions of this Act, and on the whole cost of all works erected or established for the purpose of diverting water from Lake Sorell or Lake Crescent to the point at which it shall be delivered by the Minister to the said Trustees, for the purposes of the Midland Water Act 1898 .

(3)  For the purposes of this section the Auditor-General shall certify under his hand the capital cost of the several works herein mentioned, and the proportionate amount of such cost in respect of which the Trustees of the River Clyde and of the Midland Water District respectively have to pay interest as hereinbefore provided, and such certificate shall be final and binding upon all parties.