Commonwealth Numbered Acts

DEFENCE HOME OWNERSHIP ASSISTANCE SCHEME ACT 2008 (NO. 27, 2008) - SECT 34

             (1)  In addition to the other conditions in this Subdivision, all of the following conditions must be met for a subsidy lump sum to be payable to the subsidised borrower at a particular time:

                     (a)  the subsidised borrower must give the Secretary a request, in the approved form, for the payment of a subsidy lump sum;

                     (b)  the subsidised borrower must be a member of the Defence Force;

                     (c)  the Secretary must be satisfied that there is a reasonable expectation that the subsidised borrower will:

                              (i)  continue to be a member of the Defence Force for 1 year after the first authorisation day for the subsidy; and

                             (ii)  comply with all the relevant conditions mentioned in sections 37 to 41;

                     (d)  the request must state a number of months (not exceeding 48) of service credit to be accessed for the purpose of section 54 (which deals with the amount of the subsidy lump sum);

                     (e)  the subsidised borrower must have at least the number of months standing to his or her service credit that is stated in the request;

                      (f)  the subsidised borrower, or the subsidised borrower and his or her partner together, must not have, at any time while the subsidised borrower has been a member of the Defence Force:

                              (i)  bought an interest in land in Australia, resulting in the borrower (or his or her partner together) holding a 50% or greater interest in the land; and

                             (ii)  occupied a house on the land as a home at or after the time the interest was bought.

Note:          Sections 137.1 and 137.2 of the Criminal Code create offences for providing false or misleading information or documents (for example, in a request under paragraph (1)(a)).

             (2)  Paragraph (1)(f) applies in relation to an interest in land:

                     (a)  no matter whether the interest is held individually, as joint tenants or as tenants in common; and

                     (b)  no matter whether the interest is legal or equitable.

Subsidised borrower is surviving partner

             (3)  In the application of this section to a person who is a subsidised borrower by virtue of being a surviving partner of a deceased partner:

                     (a)  the number of months standing to the subsidised borrower's service credit is the number of months applying by the operation of sections 63 and 64; but

                     (b)  for a subsidy lump sum to be payable to the subsidised borrower, the borrower must otherwise meet the conditions mentioned in subsection (1) in his or her own right.

Note:          A surviving partner may be entitled to subsidy by the operation of section 63.