Document ID: chunk:federal_register_of_legislation:C2024C00482:clause:1_199:p2
Version: federal_register_of_legislation:C2024C00482
Segment Type: clause
Provision Reference: sch 1 cl 199 (pt 2/4)
Character Range: 66434–68859

loan—that notice has effect, on and after that day, as if it had been given by the Minister under paragraph (b).
(4) A notice given, or treated as having been given, by the Minister under paragraph (1)(b) or (3)(b) is not a legislative instrument for the purposes of the Legislative Instruments Act 2003.
(5) A person or body to whom a notice is given, or treated as having been given, by the Commonwealth under subitem (3) is liable to pay to the Commonwealth, immediately, an amount equal to the sum of:
 (a) so much of the amount of the loan as has not yet been repaid; and
 (b) any accrued interest that has not been paid;
or so much of that amount as was specified in the notice.
(6) If:
 (a) the Commission had, before ATSIC abolition day, made a grant or loan under Part 2 of the ATSIC Act to a person or body on particular terms and conditions; and
 (b) on ATSIC abolition day the grant or loan is declared to be a class A exempted asset;
then:
 (c) Indigenous Business Australia is to be treated, on and after that day, as if it had made the grant or loan on the same terms and conditions, and, in the case of a housing loan, as if it had made the loan from the New Housing Fund; and
 (d) if Indigenous Business Australia is satisfied that the person or body has failed to fulfil such a term or condition—Indigenous Business Australia may give notice to the person or body receiving the grant or loan that it is so satisfied; and
 (e) if the Commission had, before ATSIC abolition day, given a notice under section 20 of the ATSIC Act to the effect that the Commission was satisfied that the person or body receiving the grant or loan had failed to fulfil a term or condition of the grant or loan—that notice has effect, on and after that day, as if it had been given by Indigenous Business Australia under paragraph (d) of this item.
(7) A notice given, or treated as having been given, by Indigenous Business Australia under paragraph (6)(d) is not a legislative instrument for the purposes of the Legislative Instruments Act 2003.
(8) A person or body to whom a notice is given, or treated as having been given, by Indigenous Business Australia under subitem (6) is liable to pay to Indigenous Business Australia, immediately, an amount equal to the sum of:
 (a) in the case of a grant:
 (i) the amount of the grant; or
 (ii) so much of the amount of the grant as was specified in the notice; and
 (b) in the case