Document ID: chunk:federal_register_of_legislation:C2025C00096:section:4:p6
Version: federal_register_of_legislation:C2025C00096
Segment Type: section
Provision Reference: s 4 (pt 6/14)
Character Range: 18783–21168

a guarantee to a credit provider in relation to a subsidised advance.
Holding, in relation to an applicant or borrower, means:
 (a) land of which he or she is the beneficial owner in fee simple; or
 (b) land of which he or she is the lessee under a Crown lease in perpetuity from a State; or
 (c) land of which he or she is the lessee under a lease granted for a term of not less than 99 years from a State or from a local governing body; or
 (d) land in a Territory of which he or she is the lessee under a lease from Australia or from the Administration of the Territory, being:
 (i) a lease in perpetuity;
 (ii) a lease granted for a term of not less than 99 years; or
 (iii) in the case of Norfolk Island—a lease granted for a term of not less than 28 years; or
 (e) a suburban holding held by him or her under the Crown Lands Consolidation Act, 1913 of New South Wales or under that Act as amended at any time or under an Act enacted in substitution for that Act, being a suburban holding an application for which has been confirmed in accordance with the law of that State; or
 (f) a unit defined in a units plan registered in accordance with a law of the Australian Capital Territory relating to unit titles, being a unit of which he or she is the lessee under a lease from Australia; or
 (g) land which he or she holds by way of a company title; or
 (h) land of which he or she is the lessee under a lease that a credit provider considers is adequate security for a subsidised advance to be made to him or her.
Note: An interest in a holding may be a joint interest in accordance with section 4AB.
Home Loans Assistance Act means the Defence Force (Home Loans Assistance) Act 1990.
home support advance means a subsidised advance to a person referred to in section 21A for a purpose referred to in that section.
initial advance means a subsidised advance for a purpose referred to in subsection 18(2) to a person referred to in subsection 18(1) who is not, and has not previously been, a purchaser or borrower as defined in this section (as in force before, on or after the commencing day), otherwise than:
 (a) merely because the person is or was the personal representative of a deceased purchaser or borrower as so defined; or
 (b) merely because the person is or was a joint purchaser or borrower as so defined with the person's spouse or de facto partner and became such a