This subdivision applies to an application to the authority for payment of a rental bond if—
(a) there is more than 1 contributor for the bond; and
(b) at least 1 of the contributors is a bond loan contributor; and
(c) not all contributors are bond loan contributors; and
(d) the bond loan contributor’s share is proportionally less than the share of the other contributors having regard to the initial contribution of each contributor; and
(e) the amount of the bond loan contributor’s share is less than the balance owing for the bond loan to the department in which the Housing Act 2003 is administered.