Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p12
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 28047–30681

for a term of 25 years or less.

Criteria for issue of certificate of entitlement: widows' advances
"20. (1) The Secretary shall not issue a certificate of entitlement in relation to subsidy on a widow's advance that a person may seek from the Bank unless satisfied that:
     (a) the person is the widow, or widowed mother, of an eligible person, or the wife of an eligible person who is temporarily or permanently insane;
     (b) the person is a purchaser or a borrower in relation to land or land and a dwelling-house; and

     (c) the widow's advance relates to that land or land and dwelling-house.
"(2) The Secretary shall not issue a certificate of entitlement in relation to a subsidy on a widow's advance that a person may seek from the Bank unless satisfied that:
     (a) the advance is for the purpose of keeping the buildings, fences, fixtures and other improvements on the relevant land in good order and repair and it would cause financial hardship to the person if she were to bear the cost of keeping them in good order and repair; or
     (b) the advance is for the purpose of paying rates, taxes, charges or other outgoings in relation to the relevant land or land and dwelling-house and it would cause financial hardship to the person if she were to pay those rates, taxes, charges or other outgoings.

Criteria for issue of certificate of entitlement: advances made for essential repairs
"21. The Secretary shall not issue a certificate of entitlement in relation to subsidy on an advance for essential repairs that a person may seek from the Bank unless satisfied that:
     (a) the person is an eligible person who is a purchaser or a borrower in relation to land or land and a dwelling-house;
     (b) the advance relates to that land or land and dwelling-house;
     (c) the advance is for the purpose of enabling the person to effect repairs essential to keep the buildings, fences, fixtures and other improvements on that land in good order and repair; and
     (d) it would cause serious financial hardship to the person if he or she were to bear the cost of keeping them in good order and repair.

Certificate of entitlement: transfer of property subject to specified portfolio asset or advance
"22. (1) While any land, or land and dwelling-house, is subject to a specified portfolio asset which vests in the Bank under section 6b or a mortgage securing a subsidised advance, a transfer of the estate or interest of the purchaser or borrower in that land, or land and dwelling-house, being a transfer subject to that specified portfolio asset or mortgage, has no effect unless the Secretary has issued a