Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to this Act, where financial assistance under this Act is provided to a State by way of loan, the State shall:
(a) repay the loan in such manner, and within such period, as are specified in the agreement in accordance with which the financial assistance is provided; and
(b) pay interest in respect of the loan at the long - term bond rate in such manner, and at such times within that period, as are so specified.
(2) For purposes of subsection ( 1), a reference to the long - term bond rate, in relation to any interest, is a reference to the rate that is equivalent to the rate of yield to maturity of the long - term loan of the last loan - raising by the Australian Government in Australia for public subscription before a date specified in, or ascertained in accordance with, the agreement.