Commonwealth Numbered Acts Commonwealth Numbered ActsSubsidy stops being payable to the subsidised borrower, in relation to the entitlement period:
(a) if an event mentioned in an item in the following table occurs; and
(b) with effect from the start of the monthly authorisation period in which the critical time provided for that item occurs.
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When subsidy stops being payable |
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Item |
Event |
Critical time |
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1 |
All outstanding amounts due under the subsidised loan are paid |
As soon as the outstanding amounts are paid |
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2 |
The subsidised borrower no longer has a service credit |
As soon as the subsidised borrower no longer has a service credit |
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3 |
Subsidy becomes payable to the subsidised borrower in relation to another loan (unless subsidy is payable in relation to one of the loans by the operation of Division 5 (subsidy for surviving partners)) |
When subsidy becomes payable in relation to the other loan |
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4 |
The Secretary is satisfied that the condition under section 37 (relating to the completion of building work) is not met |
2 years after the first authorisation day for the subsidy |
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5 |
A condition mentioned in section 38 (relating to the ownership of land) is not met |
As soon as the condition is not met |
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6 |
The Secretary is satisfied that the condition under section 39 or 40 (relating to occupation of the house) is not met |
As soon as the condition is not met |
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7 |
The Secretary is satisfied that the condition under section 41 (relating to the use of the land) is not met |
As soon as the condition is not met |
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8 |
The Secretary is satisfied that the condition under section 42 (relating to the disclosure of changes of circumstances) is not met in relation to an event |
At the earlier of the following times: (a) the time the subsidised borrower becomes aware of the event; (b) the constructive knowledge time mentioned in subsection 42(3) |
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9 |
Subsidy stops being payable in accordance with a notice given by the Secretary under section 43, at the request of the subsidised borrower |
On the later of the following days: (a) the day requested by the subsidised borrower; (b) a day (if any) stated by the Secretary in the notice |
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10 |
Authorisation for the payment of subsidy to the subsidised borrower is revoked in accordance with a notice given by the Secretary under subsection 44(2) |
When subsidy first became payable |
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11 |
The subsidised borrower dies, unless subsidy is, or becomes, payable to the borrower's surviving partner under section 60 or 61 |
When the subsidised borrower dies |
Note: The Commonwealth may recover, as overpayments, any subsidy paid to a subsidised borrower after subsidy has stopped (or is taken to have stopped) being payable to him or her (see Division 6).