Document ID: chunk:federal_register_of_legislation:C2004A04077:section:1918:p9
Version: federal_register_of_legislation:C2004A04077
Segment Type: section
Provision Reference: s 1918 (pt 9/11)
Character Range: 21219–24127

"(2) In deciding whether a person is suffering serious financial hardship for the purposes of paragraph (1) (d), the Secretary is to have regard to any guidelines approved by the Minister under subsection (3).

"(3) The Minister may approve guidelines setting out matters to be taken into account in deciding whether a person is suffering serious financial hardship for the purposes of this Act.

"(4) Guidelines approved by the Minister in accordance with this section are disallowable instruments for the purposes of section 46a of the Acts Interpretation Act 1901.".

  Commencement: Day of Royal Assent

Certificate of entitlement: transfer of property subject to specified portfolio asset or advance

  13. (1) Section 22 of the Principal Act is amended:

     (a) by omitting from subsection (3) "to a proposed transferee who is not an eligible person" and substituting "only to a proposed transferee who is an eligible person";

     (b) by omitting from subsection (6) "is" (first occurring) and substituting "has been".

  (2) Where:

     (a) the Secretary had, before the commencement of this section, given written notice to a proposed transferee that the Secretary would, in the absence of a significant change in the proposed transferee's circumstances, issue a certificate of entitlement under subsection 22 (2) of the Principal Act as in force immediately before the commencement of this section; and

     (b) the proposed transferee applies for the certificate of entitlement before the end of 12 months after the commencement of this section;

the Secretary may issue the certificate of entitlement but must not do so otherwise.

  Commencement: Day of Royal Assent

Certificate of entitlement: instalment relief

14. Section 23 of the Principal Act is amended by adding at the end the following subsections:

"(5) In deciding whether a person is suffering financial hardship for the purposes of subsection (1), the Secretary is to have regard to any guidelines approved by the Minister under subsection (6).

"(6) The Minister may approve guidelines setting out matters to be taken into account in deciding whether a person is suffering financial hardship for the purposes of this Act.

"(7) Guidelines approved by the Minister in accordance with this section are disallowable instruments for the purposes of section 46a of the Acts Interpretation Act 1901.".

  Commencement: Day of Royal Assent

Maximum amounts for which subsidy is payable

15. Section 25 of the Principal Act is amended by omitting paragraph (1) (d) and substituting the following paragraph:

  "(d) in the case of a further advance—an amount equal to:

         (i) the limit of the last Corporation advance, subsidised advance or contract of sale in relation to which the person was a borrower or purchaser; or

      (ii) $25,000;

     whichever is less.".

  Commencement: Day of Royal Assent

16. Section 34 of