Commonwealth Numbered Acts

HOMES SAVINGS GRANTS ACT 1976 No. 183 of 1976 - SECT 19

19. (1) A grant shall not be made to a sole applicant or to joint applicants
unless the Secretary is satisfied that acceptable savings were held by the
applicant or applicants, as the case may be, on the prescribed date and
throughout the period of 1 year ending immediately before the prescribed date.

(2) A grant shall not be made in respect of a dwelling-house in relation to
which paragraph 15 (1) (c) applies unless the dwelling-house has been
completed or the Secretary is satisfied that substantial progress on the
construction has been made.

(3) A grant shall not be made in respect of a dwelling-house unless the
Secretary is satisfied that the applicant has or will have, or the applicants
have or will have, adequate financial resources (including resources obtained
or to be obtained by borrowing) to perform in relation to the dwelling-house
the contract referred to in paragraph 15 (1) (a) or (b), or to complete the
construction referred to in paragraph 15 (1) (c), as the case may be.

(4) Sub-section (3) does not apply in relation to a contract for the purchase
of a dwelling-house, being a contract that provides for the payment of the
purchase price or part of the purchase price by instalments, if the Secretary
is satisfied that it would be unreasonable for that sub- section to apply
having regard to all the circumstances.