6. Reimbursement of University by the payment of an annuity
The aggregate sum of principal and capitalised interest ascertained as mentioned in section five shall, together with interest thereon (or on so much thereof as shall for the time being remain unrepaid), at £5 per cent. per annum, computed from the date of the lodgment with the Minister for Works of the certificate mentioned in section four, be paid by the Government to the University, as follows: ¾
(a) For a period of thirty years, the Government shall pay to the University an annual sum of such an amount as will at the end of thirty years completely discharge the said aggregate sum and all interest thereon in the meantime at the rate aforesaid;
(b) Such annual sum shall be paid in equal half-yearly instalments, and the first instalment shall be paid six months after the date of such lodgment;
(c) Such annual sum is hereby charged on the Consolidated Fund, and that Fund to the extent required for the payment thereof is hereby permanently appropriated accordingly.
[Section 6 amended by No. 6 of 1993 s.11.]