(1)  The Treasurer and a comptroller must pay to the relevant single authority council or participating councils the proceeds of all payments received under this Part at such times as are agreed with the single authority council or participating councils.

(2)  In the case of an applicable authority, the amount to be paid to the single authority council or participating councils is the amount of all payments made to the Treasurer or comptroller by the authority after adjustments are made for any refunds or variations to which the authority is entitled.

(3)  The Treasurer and a comptroller may deduct from any amount payable under this section, or invoice a single authority council or participating councils, an amount representing the fair and reasonable cost which he or she has incurred in the administration of this Part.

(4)  The Treasurer and a comptroller must, before 31 August in each year, provide each single authority council and participating council with a summary showing the calculation and payment of income tax equivalents and guarantee fees for which the Treasurer or comptroller was responsible under this Part during the previous financial year.