Document ID: chunk:federal_register_of_legislation:C2024C00637:section:78
Version: federal_register_of_legislation:C2024C00637
Segment Type: section
Provision Reference: s 78
Character Range: 104882–106038

78  Declared loan providers
 (1) The Minister may declare a body corporate to be a declared loan provider for the purposes of this Act if the Commonwealth and the body have entered into a loan provider agreement.

Declaration takes effect immediately
 (2) A declaration under this section takes effect immediately after it is made.

Revoking declarations
 (3) The Minister may revoke a declaration made under subsection (1).
 (4) If subsidy becomes payable to a subsidised borrower in relation to a loan made by a declared loan provider and the declaration of the loan provider is later revoked, the revocation does not affect:
 (a) the subsidised borrower's entitlement to the payment of subsidy in relation to the loan; or
 (b) if the subsidised borrower dies—the entitlement of a surviving partner of the subsidised borrower to subsidy in relation to the loan by the operation of section 60 or 61.
 (5) To avoid doubt, the Minister may revoke a declaration under this section whether or not the loan provider agreement mentioned in subsection (1) is in force.
 (6) In this Act:
declared loan provider means a loan provider declared under this section.