Commonwealth Numbered Acts

Home Deposit Assistance Act 1982 No. 40 of 1982 - SECT 23

23. (1) For the purposes of this Act, the acceptable savings of joint
applicants on a particular date (in this section referred to as the ''relevant
date'') include moneys (other than borrowed moneys)-

   (a)  that were maintained at the expiration of the relevant date by any of
        the applicants, or jointly by 2 or more of the applicants, on deposit
        with a branch in Australia of a savings bank, on fixed deposit with a
        branch in Australia of a trading bank, or on deposit with a
        building society or credit union;

   (b)  that were paid on or before the relevant date by any of the
        applicants, or jointly by 2 or more of the applicants, to a
        building society as subscriptions in respect of shares in the capital
        of the society (not being shares listed for quotation for sale or
        purchase on a Stock Exchange) and were not repaid on or before that
        date; or

   (c)  that were paid by any of the applicants, or jointly by 2 or more of
        the applicants, under the Inscribed Stock Act-

        (i)    for the purchase of stock that was, at the expiration of the
               relevant date, inscribed under that Act in the name of that
               applicant or in the joint names of those applicants, as the
               case may be; or

        (ii)   for the purchase of bonds in respect of which an equivalent
               amount of stock was, at the expiration of the relevant date,
               inscribed under the Act in the name of a bank.

(2) The reference in sub-section (1) to moneys maintained on deposit by a
joint applicant as mentioned in paragraph (1) (a), or paid by a joint
applicant as subscriptions for shares as mentioned in paragraph (1) (b), or
paid by a joint applicant for the purchase of stock or bonds as mentioned in
paragraph (1) (c), shall be read as including a reference to one-half of any
moneys so maintained on deposit or paid by the applicant jointly with another
person (not being another joint applicant), being-

   (a)  a person to whom the applicant was legally married on the
        prescribed date and to whom a direction under sub-section 7 (2)
        applies;

   (b)  a person (not being a deceased spouse of the applicant) who was the
        spouse of the applicant on the relevant date; or

   (c)  a person who, on the relevant date, was engaged to be married to the
        applicant.
         (3) In this section, ''borrowed moneys'' means-


   (a)  in relation to moneys maintained on deposit, or paid, by any
        joint applicant or jointly by 2 or more joint applicants-moneys
        borrowed by any of the joint applicants; and

   (b)  in relation to moneys maintained on deposit, or paid, by a joint
        applicant jointly with another person as mentioned in sub-section
        (2)-moneys borrowed by the applicant, by that other person or by both
        of them.