Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p14
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 14/50)
Character Range: 104337–107049

Reserve Bank of Australia on 30 September 1992 or on 30 September of each succeeding year, then the five (5) largest Banking Group providers of Housing Loans shall be the five (5) largest Banking Group providers of Housing Loans last determined under this Sub‑clause until the data are supplied by the Reserve Bank of Australia. If on 31 December 1992 or 31 December of a succeeding year as appropriate the data are still not available the parties shall use such data as are otherwise agreed.
           (d) Where a Banking Group had been one of the five (5) largest Banking Group providers of Housing Loans and that Banking Group ceases to be a Banking Group within the meaning of Sub‑clause 5.15.1, then the remainder of the five (5) largest Banking Groups shall be deemed to be the largest Banking Group providers of Housing Loans until another determination is made under this Sub‑Sub‑clause.
        5.15.4 The parties agree that data supplied by the Reserve Bank of Australia to the Commonwealth pursuant to this Sub‑clause shall be treated by them as final and conclusive.
        5.15.5 Where a dispute, question or difference arises as to the Benchmark Rate notified by the Commonwealth to the Bank pursuant to Sub‑clause 5.15.2(f) the matter may be referred to arbitration by the Bank in accordance with Clause 24. If a determination is not made by the arbitrator or the matter otherwise resolved by the date referred to in Sub‑clause 5.15.2(d), then the Benchmark Rate first notified by the Commonwealth pursuant to Sub‑clause 5.15.2(f) shall be treated by the parties as final and conclusive.
        5.15.6 For the purposes of calculations of Subsidy payments under the Act the Benchmark Rate shall be expressed as a decimal fraction, for example 16.75 per cent shall be expressed as 0.1675.
    5.16 Changes to Title of Subsidised Loan Account during the term of a Subsidised Loan
     Where a Subsidised Borrower who:
           5.16.1 (a)  is the sole owner of the Property and wishes by a sale or transfer of part of his or her interest in the Property to own the Property together with his or her spouse as joint tenants;
           (b) together with his or her spouse as joint tenants owns the Property and wishes by a purchase or transfer of the spouse's interest to become the sole owner of the Property; or
           (c) has obtained a Subsidised Loan of less than forty thousand dollars ($40,000.00) and wishes to increase the amount of the loan and to apply to the Commonwealth for approval of payment of Subsidy in respect of the increase,
        the Bank shall advise the Subsidised Borrower immediately that an application must be made to the Commonwealth for a Grant of Approval and