Document ID: chunk:federal_register_of_legislation:C2024C00682:section:31:p2
Version: federal_register_of_legislation:C2024C00682
Segment Type: section
Provision Reference: s 31 (pt 2/2)
Character Range: 60289–60993

may, by notice in writing given to the person, reduce the due amount by such amount as the Secretary specifies in the notice and this section applies in relation to the reduced amount as if it were the due amount.
 (7) The Secretary must cause a copy of a notice under subsection (6) to be given to the Bank in accordance with the agreement.
 (8) In this section:
due amount means an amount equal to the amount incorrectly paid to the Bank by way of subsidy on a loan to a person plus interest on that amount at the benchmark rate from time to time applicable from the day the incorrect payment was made until payment is made to the Commonwealth under the agreement or this section, as the case requires.