(1) A dividend under this section is to be ¾

(a) calculated with respect to the net profits of a port authority for a financial year after first taking into account ¾

(i) any amounts payable to the Treasurer under section 82 and the State Enterprises (Commonwealth Tax Equivalents) Act 1996; and

(ii) any formula for calculation agreed between the Minister and the Treasurer;

and

(b) paid to the Treasurer, in accordance with subsection (4).

(2) The board of a port authority, as soon as practicable after the end of each financial year, is to make a recommendation to the Minister as to the amount of the dividend (if any) that the board recommends as appropriate for that financial year.

(3) The Minister, with the Treasurer's concurrence ¾

(a) may accept a recommendation under subsection (2); or

(b) after consultation with the board, is to direct that the amount of the dividend is to be some other amount.

(4) A port authority is to pay the dividend ¾

(a) as soon as practicable after the amount is fixed under subsection (3); and

(b) in any case not later than ¾

(i) 6 months after the end of the financial year to which the dividend relates; or

(ii) such other time as may be agreed between the Treasurer and the board.

(5) The Minister must within 14 days after a direction is given under subsection (3) cause a copy of it to be laid before each House of Parliament or dealt with in accordance with section 133.