Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Commissioner must give a notice (the loan limit notice ) under this section in relation to a person if the person's total indebtedness under this Act exceeds the maximum permitted debt.
(2) The notice must:
(a) state that, on the day on which the notice is given, the person's total indebtedness under this Act exceeds the maximum permitted debt; and
(b) summarise the effect of sections 106ZF, 106ZG, 106ZH and 106ZJ.
(3) The notice must be in writing and given to the person to whom it relates.
(4) The Commissioner must give a copy of the notice to:
(a) each institution at which, according to information that the institution has given the Commissioner, the person to whom the notice relates is enrolled in or undertaking a designated course of study, an eligible post - graduate course of study or a BOTP course; and
(b) if the Agency has given information to the Commissioner indicating that the person to whom the notice relates is an eligible client of the Agency for a study period--the Agency;
unless the notice has been cancelled under section 106ZF.
Note: The Commissioner must give a copy of the notice from time to time as occasion requires. See subsection 33(1) of the Acts Interpretation Act 1901 .
(5) At the time the notice is given, the Commissioner must also give a statement in writing to the person to whom the notice relates that specifies:
(a) the maximum permitted debt; and
(b) the person's total indebtedness under this Act at that time.