Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p22
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 22/51)
Character Range: 217137–219922

prevailing market conditions and lending norms as evidenced by the lending criteria then applied by the five (5) largest bank providers of housing finance determined in accordance with Sub‑clause 11.10. Where the Bank considers that circumstances in the market justify such an alteration, it shall advise the Commonwealth at least thirty (30) days prior to the intended date of effect of the proposed alteration in the lending criteria. The Bank will continue to treat Entitled Applicants and Borrowers no less favourably in comparison with its other Housing Loan Customers in future than is the case as at the date of signing this Agreement, including in particular the special factors referred to in Sub‑clause 7.8 which the Bank is expressly required by this Agreement not to take into account in applying its lending criteria to Entitled Applicants in future.
    7.7 Failure to meeting Lending Criteria
    The Bank further agrees that the failure by an Entitled Applicant to meet the lending criteria set out in Schedule "C" will be the sole basis for a refusal in whole or in part by the Bank to make the Subsidised Advance or grant the Instalment Relief or give effect to the Commonwealth's consent to the Transfer of Land and Subsidy sought by the Entitled Applicant.
    7.8 Factors to be excluded by Bank
    The Bank further agrees that the following factors will not be taken into account when considering whether an Entitled Applicant has met the lending criteria set out in Schedule "C":
       (a) the age of the person;
       (b) the amount of money the Entitled Applicant has on deposit with the Bank and/or the period of time the Entitled Applicant has had money on deposit with the Bank;
       (c) the fact that the Entitled Applicant has never had money on deposit with the Bank or with any other bank, building society, or other financial institution;
       (d) the sex or marital status of the Entitled Applicant; and
       (e) the race, colour or religious beliefs of the Entitled Applicant.
    7.9 Reasons for Bank's decision
    The Bank further agrees that, if requested, the Bank's advice to the Entitled Applicant will, in the case of rejection in whole or in part of the application, include reasons in writing for the Bank's decision that the Entitled Applicant failed to meet the lending criteria.
    7.10 Commonwealth determination
    Should the Commonwealth determine that an applicant is not an Entitled Applicant then any advance or instalment relief or benefit made or given by the Bank to the applicant shall not be a Subsidised Advance or Instalment Relief pursuant to this Agreement.
    7.11 Non‑discrimination
    The Bank agrees that it will not discriminate against or differentiate other than as provided in this Agreement between an