DEFENCE SERVICE HOMES ACT 1918 - SECT 24 Subsidy payable by Commonwealth

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.