Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p15
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 15/51)
Character Range: 199172–202199

remedied its default in payment of part or all of the Consideration, it may give a further written notice to the Commonwealth and the Corporation pursuant to Sub‑clause 4.4 and the Minister shall thereupon determine the Vesting Date in accordance with Sub‑clause 4.5.
    4.6 Earliest Dates to be specified
     The date to be specified in the Bank's notice under Sub‑clause 4.4 shall not be earlier than the date identified below in respect of each State and Territory.

STATE                                                                     DATES
South Australia and the Northern Territory                                15 January 1989
Western Australia                                                         1 February 1989
Queensland                                                                28 February 1989
Victoria and Tasmania                                                     15 March 1989
New South Wales and the Australian Capital Territory and Norfolk Island
                                                                          15 April 1989

    4.7 Existing Sums Deposited by Borrowers
    The Commonwealth further agrees to pay to the Bank and the Bank further agrees to treat as Excess Credits under Clause 9 the sums deposited with the Corporation by Borrowers to the credit of Borrowers' accounts pursuant to Section 29 of the Act, by paying all such sums on a State by State basis in the manner provided in this Clause for the vesting of Portfolio Assets so that all such sums deposited by Borrowers in each State shall be paid to the Bank on the relevant Vesting Date.

    5. TRANSITION PROVISIONS
    5.1. Incomplete Applications for an Advance under the Act
     On 1 December 1988 or on the Date of Proclamation whichever is the later, those applications for a Corporation Advance by a person who has not previously received assistance under the Act or by a person who has previously received assistance under the Act and has obtained or sought the Minister's approval for assistance pursuant to Section 20A of the Act, which are in the possession of the Corporation as at such date but for which a mortgage has not been executed by both the Corporation and the Entitled Applicant (or has not been executed by the Entitled Applicant in such cases where the mortgage is required to be executed only by the Entitled Applicant) and are identified below, shall be dealt with by the parties as follows.
    5.1.1 The Corporation shall treat any such application as an application for a Certificate of Entitlement in accordance with Clause 7.
     No later than when the Corporation delivers a Certificate of Entitlement to the Bank, the Corporation shall also deliver to the Bank a copy of any such application and the Bank shall treat that copy of such application in the same way as an application for a Subsidised Advance is to be treated under Clauses 7 and 8.
         5.1.2 Where the Corporation has approved a Corporation Advance in respect of any such application, on receipt of the