Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister may enter into an agreement, on behalf of the Commonwealth, with a financial corporation for the payment by the corporation after the commencement of this Chapter, in the year in which this Chapter commences or a later year, of financial supplement.
(2) An agreement referred to in subsection (1) does not have any effect unless it:
(a) is expressed to have effect subject to this Chapter; and
(b) provides for the payment by the Commonwealth to the financial corporation, in respect of each amount of financial supplement paid by the corporation to a person that has not been repaid, or in respect of which the rights of the corporation have been transferred to the Commonwealth, of a subsidy of such amount or amounts, or at such rate or rates, and in respect of such period or periods, as are stated in the agreement.
(3) If such an agreement is entered into, the corporation is a participating corporation for the purposes of this Chapter in respect of the year, or each year, concerned.
(4) The parties to an agreement referred to in subsection (2) (including such an agreement as previously amended under this subsection) may enter into an agreement amending or terminating it.
(5) The amendment or termination of an agreement does not affect any financial supplement contract that was in force immediately before the amendment or termination took effect.
(6) If an agreement was in force, immediately before the commencement of this Chapter, between the Commonwealth and a financial corporation under section 1.7 of the Social Security Student Financial Supplement Scheme 1998, the amendment or termination of the agreement, and the commencement of an agreement under this section, do not affect any financial supplement contract made under that Scheme.
(7) An agreement between the Commonwealth and a financial corporation is not subject to any stamp duty or other tax under a law of a State or Territory.
(8) An officer may disclose to a participating corporation any information about a person that is relevant to the exercise or performance by the corporation of any of its rights or obligations in respect of the person under this Chapter.
(9) A participating corporation may disclose to an officer any
information about a person that is relevant to the exercise or performance of
any rights, powers or obligations conferred or imposed on an officer or on the
Commonwealth in respect of the person under this Chapter.