Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p46
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 46/51)
Character Range: 279210–282012

may submit the dispute, question or difference to arbitration by serving a further notice on the other party stating that it requires that the dispute, question or difference be referred to arbitration and the giving of such further notice shall refer such dispute, question or difference to arbitration. Such dispute, question or difference shall then be determined, subject to the provisions of this Agreement, by an arbitrator selected by agreement in writing by the parties within fourteen (14) days of the giving of the aforementioned further notice or, in the absence of such agreement, by an arbitrator appointed in accordance with the provisions of the law relating to arbitration in force in the Australian Capital Territory. Every reference to arbitration under this Clause shall be deemed to be a reference to arbitration within the meaning of such law. The fees and expenses of the arbitrator shall be borne equally by the Bank and the Commonwealth. The parties may be represented or assisted in any arbitration proceedings by persons of their choice.

    27. ASSIGNMENT
    27.1 The Agreement may not be assigned in whole or in part by either party without the prior written consent of the other party.

    28. DISPOSAL BY BANK
    28.1 The Bank shall not, without the prior written consent of the Commonwealth, transfer, assign, sell, give or otherwise dispose of its interests, rights, title and obligations in any mortgages, including but not limited to Portfolio Assets which the Bank has obtained pursuant to this Agreement and/or the Act and/or the Amending Act, to any person, including a subsidiary, partner or joint venturer of the Bank, or any Company or organization, whether incorporated or not, in which the Bank has an interest, holds stocks or shares, or is a member of or holds a position in either directly or otherwise, unless:
        (a) arrangements are made such that Borrowers will only deal with the Bank in relation to any matter arising under Portfolio Assets, Subsidised Advances, Instalment Relief or relating to consent to Transfer of Land and Subsidy or Excess Credits;
        (b) the Bank remains liable to the Commonwealth to ensure that the Bank's obligations under this Agreement (including the provision of Subsidised Advances, the provision of Instalment Relief and the giving of effect to Commonwealth consents to Transfer of Land and Subsidy) are complied with and that the rights of Borrowers are not affected notwithstanding that Portfolio Assets or mortgages entered into in the future are transferred by the Bank to another entity or entities;
        (c) the Commonwealth shall only be obliged to pay Subsidy to the Bank; and
        (d) the Bank gives the Commonwealth thirty (30) days notice of intention to do so together with details as to