12ACompetition Agreement: competition payments

12A Competition Agreement: competition payments

Subject to this Act, the Treasurer may pay by way of financial assistance to a State, in relation to a grant year:

(a) an amount that does not exceed; or

(b) amounts that in total do not exceed;

the maximum amount that may be paid to that State under the applicable Schedule.

Note: This provision is enacted pursuant to the Competition Agreement.
Under that Agreement, the Commonwealth undertakes to provide financial assistance by way of general purpose payments to the States over a period beginning on 1 July 1997 subject to the States complying with the conditions set out in the Agreement.