(1) The * accumulated HELP debt that a person incurs on 1 June in a financial year discharges, or discharges the unpaid part of:
(a) any * HELP debt that the person incurred during the calendar year immediately preceding that day; and
(b) any accumulated HELP debt that the person incurred on the immediately preceding 1 June.
(2) Nothing in subsection (1) affects the application of Division 137, Subdivision 140 - B or section 140 - 25.