Document ID: chunk:federal_register_of_legislation:C2004A04978:body:0:p8
Version: federal_register_of_legislation:C2004A04978
Segment Type: other
Provision Reference: 
Character Range: 17443–20166

"(4) A certificate of assignment issued under this section remains in force until subsidy in respect of the assigned advance concerned ceases to be payable under this Act.

"(5) A certificate of assignment issued under this section must:

    (a) specify the maximum amount in respect of which subsidy is payable, being an amount determined under section 25; and

(b) specify the maximum term of the advance; and

(c) specify the purpose of the advance; and

(d) specify the rate of interest payable on the advance; and

    (e) contain particulars of such other matters as are specified in a determination made by the Secretary under subsection (6).

''(6) The Secretary may make written determinations as to the kind of matters to be included in a certificate of assignment pursuant to paragraph (5)(e).

"(7) Determinations made under subsections (3) and (6) are disallowable instruments for the purposes of section 46A of the Acts Interpretation Act 1901. ".

36. Subsection 24(1):

Add at the end "or the assignee of a person".

37. Paragraph 25(l)(b):

Omit the paragraph, substitute:

      " ; and (b) in the case of an additional advance—such amount as the Secretary determines is necessary to give effect to the purpose for which the advance is made, being an amount that is not more than the amount by which $25,000 exceeds:

SCHEDULE 1—continued

       (i) in the case of an assigned advance—the sum of the amounts of the assigned advances made to the assignee in relation to the person; or

       (ii) in any other case—the sum of the amounts of the contract of sale, Corporation advance, initial advance or further advance and any previous additional advance made to the person; and".

38. Subparagraph 25(l)(d)(i):

After "borrower or purchaser" insert ", or the assignee of the person was a borrower in respect of the person (as the case requires)".

39. Subsection 25(1A):

Add at the end "or the assignee of the person (as the case requires)".

40. Subsection 26(1):

After "subsidised advance to a person" insert ", or the assignee of a person, ".

41. Paragraph 26(1)(a):

After "made by the person" insert "or the assignee of the person".

42. After paragraph 26(l)(a):

Insert:

     "; or (aa) a certificate of assignment in relation to that advance was issued to the person as a result of a false statement made by the person or the assignee of the person; or".

43. After paragraph 26(1) (b):

Insert:

     "; or (ba) the person was not, when a certificate of assignment in relation to the advance was issued to the person, entitled to the certificate; or".

44. Paragraph 26(1) (c):

After "the person" insert or the assignee of the person, ".

45. After subsection 26(2A):

Insert:

"(2B) If: