Document ID: chunk:federal_register_of_legislation:C2024C00637:section:62
Version: federal_register_of_legislation:C2024C00637
Segment Type: section
Provision Reference: s 62
Character Range: 88415–89557

62  Surviving partners of subsidised borrowers—interest in land not inherited by surviving partner etc.

Scope
 (1) This section applies if:
 (a) immediately before the death of the deceased partner, the interest in land by virtue of which subsidy was payable to the deceased partner was not held by the deceased partner and the surviving partner as joint tenants; and
 (b) that interest in land is, at a particular time (the transfer time), transferred under the deceased partner's will, or an intestacy law; and
 (c) that interest in land is so transferred:
 (i) to a person other than the surviving partner; or
 (ii) free of the subsidised loan.

Suspension of subsidy payments
 (2) Payment of subsidy in relation to the subsidised loan is suspended for the period starting at the time of the deceased partner's death and ending at the transfer time.

Subsidy taken to have stopped being payable
 (3) Subsidy is taken to have stopped being payable to the deceased partner with effect from the start of the monthly authorisation period during which the deceased partner died.

Subdivision B—Surviving partners holding subsidy certificates