Document ID: chunk:federal_register_of_legislation:C2004A04077:schedule:2:p10
Version: federal_register_of_legislation:C2004A04077
Segment Type: schedule
Provision Reference: sch 2 (pt 10/16)
Character Range: 118355–121503

Subsidised Advances".
Insert the following new definitions:
Amended Agreement:                     means the Agreement between the Commonwealth and the Bank signed on 9 November 1988 as amended by the Supplementary Agreement between the parties signed on fifth day of November 1990.
Further Amending Act:                  has the same meaning as in the Supplementary Agreement.
Retirement Village:                    has the same meaning as in the Further Amending Act.
Retirement Village                     has the same meaning as in the Further Amending Act.
Accommodation:
Right of residence in a                has the same meaning as in the Further Amending Act.
retirement village:
Supplementary Agreement:               means the Agreement signed by the Commonwealth and the Bank on the fifth day of November 1990.
Variation Advance:                     has the same meaning as in the Supplementary Agreement.
Clause 5
5.1.2                                  Insert "unless the Commonwealth and the Bank otherwise agree" after the words "any such application".
Clause 7
7.3                                    Insert "or such other security" after the words "first mortgage". Insert "(if any)" after the words "and documentation".
Clause 8
8.3                                    Insert after Sub-clause 8.3 (b) the word "or".
                                       Insert a new Sub-clause 8.3 (c) after Sub-clause 8.3 (b):

SCHEDULE 1—continued

           "(c) where the Borrower has been granted an advance falling within paragraph (a) of the definition of Variation Advance the Bank shall not be required to take any security."
8.8        Insert the words "or any other security, if any, which the Bank deems appropriate." at the end of the Sub-clause.
Clause 9
9.4.3      Insert the words "or other mortgage or security documentation, if any," after the words "by the first mortgage".
Clause 10
10.1 (b)   Insert the words: "or retirement village accommodation" after the words "or land and dwelling house".
10.1 (e)   Insert the words "or retirement village accommodation" after the word "land and dwelling house."
10.1 (f)   Insert the words "or retirement village accommodation" after the words "any other dwelling house;"
10.1 (g)   Insert the words "or retirement village accommodation" after the words "occupation of dwelling house," and delete the word "and" at the end of this paragraph.
10.1 (h)   Insert the word "; and" at the end of this paragraph.

 Insert a new Sub-clause 10.1 (i) after Sub-clause 10.1 (h) in the following terms:

    "written notice that the Entitled Applicant's right of residence in a retirement village has been terminated."

 Clause 11

 Delete Sub-clause 11.5 and insert the following:

11.5.1  Except where the provisions of Sub-clause 11.5.2 apply upon receipt by the Commonwealth of the invoice and information referred to in Sub-clause 10.5 the Commonwealth shall pay the Bank the amount of Subsidy which the

SCHEDULE 1—continued

        Commonwealth has verified by 11:00 am. on the eighteenth day of the month to which such invoice and information refers.
11.5.2  If the Bank has not