Document ID: chunk:federal_register_of_legislation:C2025C00096:section:4:p13
Version: federal_register_of_legislation:C2025C00096
Segment Type: section
Provision Reference: s 4 (pt 13/14)
Character Range: 35207–37743

land from a State on terms that entitle him, on compliance with specified conditions, to a grant in fee simple of the land; and
 (b) the applicant satisfies the Secretary that the applicant has a reasonable prospect of complying with those conditions;
the land shall be deemed to be a holding for the purposes of this Act in relation to the applicant.
 (6) For the purposes of this Act a person is taken, subject to subsection (7), to have a right of residence in a retirement village if the person has a right of permanent residence in the retirement village, subject to any contractual conditions governing the person's residence.
 (7) For the purposes of this Act a person is not taken to have a right of residence in a retirement village if the person's right of residence is derived from the person's interest in a holding of the person.
 (8) In this Act, a reference to a person's retirement village accommodation means that part of a retirement village in which the person has, or the person and the person's spouse or de facto partner have, obtained a right of residence.
 (9) A reference in this Act to an advance that a person may seek from a credit provider, includes a reference to such an advance that a person may seek from a credit provider on behalf of an assignee, or a proposed assignee, of the person.
 (10) A reference in this Act to an assignee of a person is a reference to another person in relation to whom the first‑mentioned person is an assignor.
 (11) For the purposes of the definitions of further advance and initial advance in subsection 4(1), if the subsidised advance in question is an assigned advance in respect of an assignor:
 (a) a reference in those definitions to the person to whom the advance in question is made is a reference to the assignee; and
 (b) the assignee is not taken to have previously been a purchaser or borrower merely because the assignee previously became a purchaser or borrower, either as an eligible person in his or her own right or as an assignee in relation to another assignor.
 (12) For the purposes of paragraph (b) of the definition of further advance in subsection 4(1), a person is not taken to have been a purchaser or borrower immediately before an assigned advance is made, merely because the person is a purchaser or borrower, as an assignee, in relation to an assignor other than the one in question.
 (13) For the purposes of the definitions of further advance and initial advance in subsection 4(1), a person who has been an assignor is taken to have been a