Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p13
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 30445–33178

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 certificate of entitlement to the proposed transferee in relation to the transfer.
     "(2) The Secretary:
     (a) shall not issue a certificate of entitlement in relation to consent that the person may seek from the Bank to a transfer unless satisfied that, in all the circumstances, it is reasonable to do so; and
     (b) may, before issuing the certificate, require a person to take such action (including the giving of an undertaking by the proposed transferee) as the Secretary considers reasonable in the circumstances.

"(3) A certificate of entitlement under this section may be issued to a proposed transferee who is not an eligible person.
"(4) A certificate of entitlement under this section remains in force until the subsidy to which it relates ceases to be payable under this Act.
"(5) A certificate of entitlement under this section shall:
     (a) contain a statement to the effect that the Secretary consents to the transfer to the proposed transferee and that the Commonwealth will continue to pay subsidy in relation to the specified portfolio asset or subsidised advance if the transfer to the proposed transferee is carried out;
     (b) specify the maximum amount in respect of which subsidy is payable;
     (c) specify the maximum term during which subsidy will be paid;
     (d) specify the relevant rate of interest payable on the specified portfolio asset or subsidised advance; and
     (e) contain particulars of such other matters (if any) as are specified in the agreement.
"(6) Subject to this section but in spite of any other provision of this Act, where land, or land and a dwelling-house, is transferred to a transferee who is not an eligible person, section 45a does not apply to the transferee's interest in the land, or land and dwelling-house.
"(7) This section does not apply to:
     (a) a transfer of land, or land and a dwelling-house, to the Bank as a result of the exercise by the Bank of its powers under the relevant mortgage or other security; or
     (b) where the purchaser or owner of land, or land and a dwelling-house, dies—a transmission of the land, or land and dwelling-house, to the executor or administrator of the estate of the purchaser or owner.

Certificate of entitlement: instalment relief
"23. (1) Where, on application by a person for a certificate of entitlement in relation to instalment relief that the person may seek from the Bank, the Secretary is satisfied that:
     (a) the applicant is the widow or widowed mother of