Commonwealth Numbered Acts

DEFENCE HOME OWNERSHIP ASSISTANCE SCHEME ACT 2008 (NO. 27, 2008) - SECT 58

             (1)  If a subsidy lump sum is payable to a subsidised borrower, the Secretary must pay the amount, as worked out under section 54, to the loan provider in accordance with:

                     (a)  the loan provider agreement; and

                     (b)  either:

                              (i)  if, for the purposes of section 81, a senior employee of an authorised Commonwealth contractor is exercising the Secretary's functions under this Division under a delegation--the agreement mentioned in subsection 81(3); or

                             (ii)  in any other case--a determination made by the Minister for the purposes of this section.

             (2)  A subsidy lump sum may be paid to a subsidised borrower only if subsidy is payable to the borrower as a subsidy lump sum during the most recently ended monthly authorisation period (see subsection 57(3)).

Note:          See section 28 for when subsidy becomes payable.

             (3)  A determination under subparagraph (1)(b)(ii) is a legislative instrument.