Document ID: chunk:federal_register_of_legislation:F2022L01037:clause:1_52
Version: federal_register_of_legislation:F2022L01037
Segment Type: clause
Provision Reference: sch 1 cl 52
Character Range: 27675–30921

52  Subsection 7.3.31.1
    Repeal the subsection, substitute:
1.  A member who incurs a cost listed in an item in column A of the following table is eligible to be reimbursed up to the amount in Column B of the same item.

Item  Column A                                                                                                                                                                              Column B

      Member costs                                                                                                                                                                          Reimbursement
1.    Professional fees and disbursements for the purchase or sale.                                                                                                                         The amount generally charged by a solicitor or land broker in the state or territory where the home is located.
2.    Professional fees and disbursements for a related mortgage or discharge of a related mortgage, including an amount of professional fees and disbursements incurred by the mortgagee.  The amount generally charged by a solicitor or land broker in the state or territory where the home is located.
3.    Items 1 or 2 above if they did not engage a solicitor or land broker. This does not include any procurement fee paid to negotiate the mortgage.                                       Reasonable costs.
4.    An agent's commission to purchase the home on behalf of the eligible person.                                                                                                          The amount generally charged by an agent in the state or territory where the home is located.
5.    Commission, fees or advertising expenses of an agent or auctioneer who is engaged to sell the home and sells it.                                                                      The amount generally charged by an agent or auctioneer in the state or territory where the home is located.
6.    The costs of advertising the home for sale if the eligible person did not engage an agent or auctioneer to sell it.                                                                   10% of the amount generally charged for such a sale by an agent in the state or territory where the home is located.
7.    An amount paid to a mortgagee in addition to the principal sum and interest due under the mortgage for early discharge of mortgage on the sale.                                       An amount equal to six months' interest at the rate payable on the date of the discharge of the mortgage.
8.    An amount a mortgagee requires the eligible person to pay for mortgage insurance for the purchase.                                                                                    The amount a mortgagee requires the eligible person to pay for mortgage insurance for a loan amount up to and including the purchase price of the home.
9.    An amount of government duties or fees for the purchase or sale, or related mortgage or discharge of mortgage.                                                                        The amount generally charged by a government authority in the state or territory where the home is located.