Commonwealth Numbered Acts Commonwealth Numbered ActsScope
(1) This section applies if:
(a) immediately before the death of the deceased partner, the interest in land by virtue of which subsidy was payable to the deceased partner was not held by the deceased partner and the surviving partner as joint tenants; and
(b) that interest in land is, at a particular time (the transfer time ), transferred under the deceased partner's will, or an intestacy law, to the surviving partner; and
(c) that interest in land is so transferred subject to the subsidised loan.
Suspension of subsidy payments
(2) Payment of subsidy in relation to the subsidised loan is suspended for the period starting at the time of the deceased partner's death and ending at the transfer time.
Entitlement to subsidy with effect from time of death
(3) However:
(a) the entitlement of the deceased partner to the payment of subsidy in relation to the subsidised loan is taken to have been transferred to the surviving partner with effect from the time of death; and
(b) subsidy is taken to have become payable to the surviving partner accordingly, with effect from the time of the deceased partner's death.
Application of this Part to surviving partner
(4) At and after the time of the deceased partner's death, this Part is taken to have applied (and continues to apply) to the surviving partner in the same way as it would have applied to the deceased partner (had he or she not died), subject to section 64.
Note: Section 64 provides for how this Part applies to the surviving partner.
Continuity of entitlement period
(5) The suspension and transfer (under subsections (2) and (3)) does not break the continuity of the entitlement period in respect of which subsidy had been payable to the deceased partner immediately before his or her death.