Commonwealth Consolidated Acts

DEFENCE SERVICE HOMES ACT 1918 - SECT 24

             (1)  Subject to this Part, subsidy is payable by the Commonwealth to a credit provider on a subsidised advance to a person or the assignee of a person.

             (2)  Subject to this Part, subsidy is payable by the Commonwealth to the Bank in relation to a specified portfolio asset which vests in the Bank under section 6B, or to any credit provider in relation to a subsidised advance, where the land, land and dwelling-house or right of residence in a retirement village, to which the specified portfolio asset or advance relates has been transferred to a person to whom a certificate under section 22 has been issued in relation to that transfer.

             (3)  Subject to this Part, subsidy is payable by the Commonwealth to the Bank on:

                     (a)  all specified portfolio assets which vest in the Bank under section 6B; and

                     (b)  all advances that the Bank is taken to have made under section 37.