Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p19
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 44910–47426

the Secretary has given the person a notice under this section;
    the Bank shall pay to the Commonwealth an amount equal to:
     (c) the part of the proceeds of the sale that, but for this subsection, would have been payable by the Bank to the person; or
     (d) such part of the amount specified in the notice as remains unpaid; whichever is less.
"(6) A payment by the Bank to the Commonwealth under subsection (5) is, to the extent of the payment, a discharge of the liability of the person referred to in that subsection to the Commonwealth and of any liability of the Bank to the person under the specified portfolio asset or mortgage.

Waiver etc.
"30. (1) The Secretary may, on behalf of the Commonwealth, by instrument in writing:
     (a) write off an amount that a person has been required to pay to the Commonwealth under section 29;
     (b) waive the right of the Commonwealth to recover from a person the whole or part of an amount that the person has been required to pay to the Commonwealth under that section; or
     (c) allow a person who has been required to pay an amount to the Commonwealth under section 29 to pay that amount by such instalments as are specified in the instrument.
     "(2) A decision under subsection (1) takes effect:
     (a) on the day specified in the notice, being the day on which the decision is made or any day before or after that day; or

     (b) if no day is so specified—on the day on which the decision is made.

"PART V—RATES OF INTEREST, MAXIMUM TERMS, AND CONVERSIONS

Rate of interest on initial advances
"31. The rate of interest that shall be specified under paragraph 17 (3) (d) in a certificate of entitlement in relation to an initial advance that a person may seek from the Bank is 6.85% per year.

Rate of interest on widows' advances
"32. The rate of interest that shall be specified under paragraph 17 (3) (d) in a certificate of entitlement in relation to a widow's advance that a person may seek from the Bank is 3.75% per year.

Rate of interest on additional advances
"33. The rate of interest that shall be specified under paragraph 17 (3) (d) in a certificate of entitlement in relation to an additional advance that a person may seek from the Bank is 10% per year.

Rate of interest on further advances
"34. (1) The rate of interest that shall be specified under paragraph 17 (3) (d) in a certificate of entitlement in relation to a further advance that a person may seek from the Bank is:
     (a) if the amount of the further advance