Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p7
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 7/50)
Character Range: 86310–89244

in Clause 4.1 (a) of this Agreement if, before 31 December 1995, the Commonwealth should:
          (a) pass legislation to reduce the benefits available to Entitled Persons under the Scheme;
          (b) pass legislation to change in a restrictive way the eligibility criteria for participation in the Scheme; or
          (c) introduce another scheme of Housing Loan assistance for members of the Defence Force who are eligible under this Scheme,
       and this causes:
          (d) the number of persons to whom Subsidised Loans are provided by the Bank under the Scheme to fall below:
             (i) 2,000 in the period from the Commencement Date to 31 December 1992; or
            (ii) 2,000 in the 1993 Calendar Year, the 1994 Calendar Year or the 1995 Calendar Year.
        4.7.2 Where the Bank is of the opinion that any of the above facts have occurred or will occur, it may give notice of that situation to the Commonwealth in writing. On receipt of such notice the Commonwealth and the Bank shall meet with a view to verifying the facts and then determining the extent to which part or all of the sum of $42 million referred to in Clause 4.1(a) shall be refunded to the Bank by the Commonwealth to take account of the effects of such action by the Commonwealth, such refund not to exceed the following sums:
          Period within which number of
          Subsidised Loans provided
          by the Bank first falls below 2,000  $ Million
          Commencement Date to 31 December 1992  42
          1993 Calendar Year  30
          1994 Calendar Year  20
          1995 Calendar Year  10
          1996 Calendar Year  NIL
       4.7.3 If within a period of three (3) months after verifying the facts, agreement has not been reached with the Commonwealth on the amount, if any, to be refunded to the Bank pursuant to this Clause, then the matter may be referred to arbitration by one of the parties in accordance with Clause 24.

         5. SUBSIDISED LOANS
         5.1 Preliminary Enquiries
    Where a person enquires of the Bank regarding the Scheme, the Bank shall immediately provide the person with:
          (a) an application for an Entitlement Certificate; and
          (b) Commonwealth and Bank publications describing the Scheme.
         5.2 Entitlement Certificates
       5.2.1 Where the Bank receives a completed and signed application for an Entitlement Certificate from a person, the Bank shall immediately forward by registered mail the application to the Commonwealth.
       5.2.2 A person may apply directly to the Commonwealth for an Entitlement Certificate in which case the Commonwealth agrees to:
          (a) advise the person that the Bank has an exclusive right under this Agreement to participate as the lender under the Scheme; and
          (b) provide the person with an application for an Entitlement Certificate.
       5.2.3 The parties acknowledge that a person who wishes