28Overpayments and underpayments of general grants in respect of 1994‑1995

28 Overpayments and underpayments of general grants in respect of 1994‑1995

(1) If an amount is payable to a State under subsection 8(1) of the repealed Act as it continues to apply under subsection 20(2) of this Act in relation to the year that began on 1 July 1994, the amount is to be paid to the State in the year beginning on 1 July 1995 by equal quarterly instalments at the times when instalments to which the State is entitled under section 9 of this Act in respect of that last‑mentioned year are paid. (2) If a State is liable to pay an amount to the Commonwealth under subsection 8(2) of the repealed Act as it continues to apply under subsection 20(2) in this Act in relation to the year that began on 1 July 1994, one‑quarter of the amount is to be deducted from each quarterly instalment that, apart from this subsection, would be payable to the State under section 9 of this Act in respect of the year beginning on 1 July 1995 and, if an amount is so deducted, then, despite the deduction, an amount equal to the deduction is taken, for the purposes of this Act, to have been paid to the State.