Commonwealth Numbered Acts

OVERSEAS STUDENTS (INSTALMENT PAYMENTS) CHARGE ACT 1989 No. 14, 1990 - SECT 6

6. The amount of instalment charge imposed by this Act in respect of the
second instalment of overseas student charge is an amount worked out using the
following formula:
CBR X ND X AO
365 where: "CBR" (Commonwealth Bond Rate) means the 3-year indicator
Commonwealth bond rate, expressed as a percentage, as at 1 February in the
year in respect of which the overseas student charge is imposed; "ND" (Number
of Days) means the number of days between the first payment day and the
second payment day; "AO" (Amount Outstanding) means an amount equal to half
the amount of the overseas student charge.