Commonwealth Numbered Acts

HOMES SAVINGS GRANTS ACT 1976 No. 183 of 1976 - SECT 26

26. (1) For the purpose of determining the acceptable savings of joint
applicants on a particular date (in this section referred to as the ''relevant
date''), where moneys, other than borrowed moneys, were expended before the
relevant date by any of the joint applicants, or jointly by 2 or more of the
joint applicants, in payment of the whole or a part of the purchase price in
respect of the purchase by any of the joint applicants, or jointly by 2 or
more of the joint applicants, 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 applicants and-

   (a)  any of the joint applicants has, or 2 or more of the joint applicants
        have, 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)  any of the joint applicants has, or 2 or more of the joint applicants
        have, 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
        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 joint applicant or joint applicants 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 joint applicants
        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 a joint applicant before the
        relevant date shall be read as including a reference to one-half of
        any moneys expended by that joint applicant jointly with another
        person (not being a joint applicant) being-

        (i)    a person to whom the joint 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 joint applicant)
               who was the spouse of the joint applicant on the relevant date;

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

   (c)  the reference to the entering into by the joint 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 joint applicant and
        that other person jointly; and

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

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

(4) A reference in this section to the purchase or sale by a person or persons
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 or persons
(otherwise than as a trustee or trustees) or by another person as trustee for
the first-mentioned person or persons.