47.5  Retention Fund

If the Contractor has been notified under clause 47.3.1 (Results of Survey) that rectification and/or maintenance work is required, then twelve (12) months prior to the Expiry Date the Authority shall (to the extent the Outstanding Works have not been carried out by the Contractor in the interim) deduct the costs of that work as quantified by the survey referred to in clause 47.1 (Final Survey) from any subsequent payment of the Monthly Unitary Payment and pay such amount into an interest bearing account (the "Retention Fund Account") until this Agreement has expired or terminated (subject to clause 47.6).