Commonwealth Numbered Acts

HOMES SAVINGS GRANTS ACT 1976 No. 183 of 1976 - SECT 25

25. (1) For the purpose of determining the acceptable savings of a sole
applicant on a particular date (in this section referred to as the ''relevant
date''), where moneys, other than borrowed moneys, were expended by the
applicant before the relevant date in payment of the whole or a part of the
purchase price in respect of the purchase by the applicant of land that could,
on the date on which the moneys were expended, lawfully be used for
residential purposes and is not land on which there has been, is being or is
to be, constructed a dwelling-house in respect of which an application for a
grant has been made by the applicant and-

   (a)  the applicant has, before the expiration of 6 months after the
        prescribed date, become entitled to receive a refund of the whole or a
        part of the moneys expended but had not, before the relevant date,
        received the whole of that refund; or

   (b)  the applicant has, before the expiration of 6 months after the
        prescribed date, entered into a contract for the sale of the land, but
        had not, before the relevant date, received the whole of the moneys
        that were payable to the applicant in respect of the sale, the
        Secretary may, having regard to the area and the number of separate
        parcels of the land and the amount (if any) received by the applicant
        before the relevant date as a refund of the moneys expended or in
        respect of the sale of the land, treat the acceptable savings of the
        applicant on the relevant date as having included the whole, or such
        part as the Secretary considers reasonable, of the moneys expended.

(2) In sub-section (1)-

   (a)  the reference to moneys expended by the applicant before the relevant
        date shall be read as including a reference to one-half of any moneys
        expended by the applicant jointly with another person being-

        (i)    a person to whom the applicant was legally married on the
               prescribed date and to whom a direction under sub-section 6 (2)
               applies; or

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

   (b)  the reference to the purchase of land by the applicant shall be read
        as including a reference to the purchase of land by the applicant and
        that other person jointly;

   (c)  the reference to the entering into by the applicant of a contract for
        the sale of land shall be read as including a reference to the
        entering into of such a contract by the applicant and that other
        person jointly; and

   (d)  the reference to moneys received by the applicant as a refund shall be
        read as including a reference to one-half of any moneys received as a
        refund by the applicant and the other person jointly.
(3) In this section, ''borrowed moneys'' means-

   (a)  in relation to moneys expended by the sole applicant-moneys borrowed
        by the sole applicant; and

   (b)  in relation to moneys expended by the sole applicant jointly with
        another person as mentioned in sub-section (2)-moneys borrowed by the
        sole applicant, by that other person or by both of them.

(4) A reference in this section to the purchase or sale by a person of land
shall be read as a reference to the purchase or a sale, as the case may be, of
an estate or interest in the land by the person (otherwise than as a trustee)
or by another person as trustee for the first-mentioned person.