New South Wales Consolidated Acts

HOMEFUND COMMISSIONER ACT 1993 - SECT 26

26 Monetary determinations

(1) This section applies to a determination under section 25 ordering the payment to a HomeFund borrower of an amount of money, whether by way of damages or compensation, or otherwise, for financial loss.

(2) The maximum amount that can be ordered to be paid to a HomeFund borrower is $30,000 in relation to a parcel of mortgaged property. This is also the maximum amount payable where there is more than one mortgage of the same property, and is also the maximum amount payable to joint mortgagors.

(3) However, the Commissioner may, if of the opinion that special circumstances exist, include in the determination a recommendation to the Minister that a specified amount in excess of $30,000 be paid.