Document ID: chunk:federal_register_of_legislation:C2025C00096:section:18:p2
Version: federal_register_of_legislation:C2025C00096
Segment Type: section
Provision Reference: s 18 (pt 2/3)
Character Range: 69061–71677

by:
 (i) in the case of an assigned advance—except as provided by the agreement, a first or subsequent mortgage over the assignee's interest in the retirement village and over any other person's interest in the retirement village; or
 (ii) in any other case—except as provided by the agreement, a first mortgage over the person's interest in the holding and over any other person's interest in the holding.
 (2) The Secretary shall not issue a certificate of entitlement in relation to subsidy on an advance, other than an additional advance, that a person may seek from a credit provider unless satisfied that the advance is for the purpose of enabling the person:
 (a) to build a dwelling‑house on a holding of the person; or
 (b) to purchase a holding and build a dwelling‑house on the holding; or
 (c) to purchase a dwelling‑house together with the holding on which it is built; or
 (d) to complete a partially built dwelling‑house on a holding of the person; or
 (e) to enlarge, modify or repair a dwelling‑house on a holding of the person; or
 (f) to discharge any mortgage, charge or encumbrance already existing on the person's interest in a holding; or
 (g) to obtain a right of residence in a retirement village; or
 (h) to complete the person's partially‑built retirement village accommodation; or
 (j) to enlarge, modify or repair the person's retirement village accommodation; or
 (k) to discharge any debt owed by the person in relation to the person's retirement village accommodation; or
 (l) in the case of an assigned advance—to be assisted in obtaining a right of residence in the retirement village.
 (3) The Secretary shall not issue a certificate of entitlement in relation to subsidy on an additional advance that a person may seek from a credit provider unless satisfied that the advance is for the purpose of enabling the person:
 (a) to enlarge, modify or repair:
 (i) a dwelling‑house on a holding of the person; or
 (ii) a person's retirement village accommodation; or
 (b) to meet the cost of roadmaking if the person is liable to meet that cost but is otherwise unable to do so; or
 (e) to discharge any mortgage, charge or encumbrance already existing on the person's interest in a holding; or
 (f) to discharge any debt owed by the person in relation to the person's retirement village accommodation; or
 (g) in the case of an assigned advance—to be assisted in continuing to hold a right of residence in the retirement village.
 (6) In this section:
advance means a subsidised advance other than a widow or widower advance, an advance for essential repairs or a home support advance.