17Advance payments for succeeding year

17 Advance payments for succeeding year

(1) The Treasurer may, during the period of 6 months commencing on 1 July immediately after the end of a grant year, make payments to a State of amounts not exceeding in total 55% of the sum of the amounts payable to the State under this Act in relation to the grant year. (2) The sum of the amounts paid under subsection (1) must not exceed 50% of the total amount payable under this Act in relation to the grant year. (3) The operation of section 13 is to be disregarded:

(a) in working out, for the purposes of subsection (1), the sum of the amounts payable to a State in relation to the grant year; and

(b) in working out, for the purposes of subsection (2), the total amount payable under this Act in relation to the grant year.

(4) In working out:

(a) for the purposes of subsection (1), the sum of the amounts payable to a State in relation to the grant year commencing on 1 July 1997; and

(b) for the purposes of subsection (2), the total amount payable under this Act in relation to that grant year;

the revenue replacement payment made to a State in relation to that grant year is taken to be the amount worked out by using the formula:

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where:

AA (actual amount) means the amount of the revenue replacement payment worked out in accordance with clause 5 in Schedule 4 in relation to that State.