Document ID: chunk:federal_register_of_legislation:C2004A04077:schedule:2:p2
Version: federal_register_of_legislation:C2004A04077
Segment Type: schedule
Provision Reference: sch 2 (pt 2/16)
Character Range: 97305–100212

Act 1986 or an application under the Defence Service Homes Act 1918 on or before 8 November 1990; and

     (b) the claim or application has not been finally determined before 9 November 1990;

the claim or application is to be determined as if the amendments made by paragraphs 37 (b) and (c) of this Act had not been made.

  Commencement: Day of Royal Assent

                       SCHEDULE 1 Section 19

"SCHEDULE 1a

AGREEMENT BETWEEN THE COMMONWEALTH OF
AUSTRALIA AND WESTPAC BANKING CORPORATION

TABLE OF CONTENTS

Date of Agreement

Recitals

Clause

1.     Definitions and Interpretations
2.     Agreement
3.     Unit Fee
4.     Further Amending Act
5.     Grant of Exclusive Right
6.     Adoption and Application of the Agreement
7.     Non-merging on Settlement and Severability
8.     Stamp Duty
9.     Applicable Law
10.    Waiver
11.    Amendments or Variation
12.    Assignment

Schedule of Amendments to Principal Agreement

AN AGREEMENT made the fifth day of November 1990

BETWEEN

the COMMONWEALTH OF AUSTRALIA

(hereinafter referred to as "the Commonwealth") of the one part and

WESTPAC BANKING CORPORATION

of 60 Martin Place, Sydney

in the State of New South Wales

(hereinafter referred to as "the Bank") of the other part.

SCHEDULE 1—continued

WHEREAS:

    A. Under the Agreement between the Commonwealth and the Bank dated 9 November 1988 pursuant to the Amending Act the Bank acquired from the Commonwealth the interests of the Defence Service Homes Corporation ("the Corporation") in the Portfolio Assets and the exclusive right to provide Subsidised Advances and other benefits upon which subsidy is payable to all persons satisfying the tests of eligibility and entitlement under the Amended Act.

    B. The Commonwealth proposes to introduce legislation to vary the categories of Subsidised Advances provided pursuant to the Amended Act by varying the Subsidy Scheme so as to introduce the Variation Advances.

    C. The Bank wishes to acquire from the Commonwealth the exclusive right to provide the Variation Advances to all persons who satisfy the tests of eligibility and entitlement in respect of same under the Amended Act.

    D. The Commonwealth is willing to provide to the Bank the exclusive right to provide the Variation Advances to all persons who satisfy the tests of eligibility and entitlement under the Defence Service Homes Act 1918 as amended by the Veterans' Affairs Legislation Amendment Bill 1990.

    E. The Commonwealth is willing to pay to the Bank a Subsidy in respect of the Variation Advances granted to all persons who satisfy the tests of eligibility and entitlement under the Defence Service Homes Act 1918 as amended by the Veterans' Affairs Legislation Amendment Bill 1990.

    F. The Bank is willing to pay to the Commonwealth a fee in respect of each Subsidised Advance which is a Variation Advance granted by the Bank.

    G.