Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p16
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 16/50)
Character Range: 109439–112179

to stamping and registration of documents, legal costs, mortgage insurance premiums and charges to the Bank for advising, consulting and valuation services.
    6.2 Fees to be the same as for other Housing Loan customers
        6.2.1 The Bank agrees that persons who use or seek to use the Scheme shall pay no more in fees (and no other fees) in respect of Housing Loans provided by the Bank than are paid by its other Housing Loan customers.
        6.2.2 In particular where an Entitled Person applies for a Subsidised Loan and at the same time applies for a Further Housing Loan from the Bank, regardless of the number of accounts which may be operated by the Bank in relation to the loans, the Bank hereby agrees that it shall charge only one set of fees. Such fees shall be calculated as though the Entitled Person has applied for a single Housing Loan of an amount equal to the aggregate amount of the Subsidised Loan and the Further Housing Loan.

    7. SUBSIDY
    7.1 Obligation of the Commonwealth to pay Subsidy
        7.1.1 Subject to Sub‑clause 7.1.2, the Commonwealth agrees to pay Subsidy to the Bank in accordance with the Act and this Agreement.
        7.1.2 The obligation of the Commonwealth referred to in Sub‑clause 7.1.1 is conditional on:
           (a) the satisfaction of all of the relevant provisions of the Act, including the Commonwealth's acceptance of Part D of the Application for Payment of Subsidy;
           (b) the advancing of a loan by the Bank pursuant to Sub‑clause 5.4 or the advancing of an increase pursuant to Sub‑clause 5.5.1 within twelve (12) months of the date of issue of the Entitlement Certificate or a Grant of Approval as the case may be.
        7.1.3 In cases where the Commonwealth is not satisfied with the contents of Part D of the Application for Payment of Subsidy, the Commonwealth shall immediately notify the Bank and the applicant and specify the matters in respect of which the Commonwealth is not satisfied. The applicant and the Bank shall be given a reasonable opportunity to rectify the deficiencies specified.
        7.1.4 The Bank acknowledges that the Commonwealth may, in accordance with the Act, terminate or suspend payments of Subsidy. In the event that the Commonwealth decides to terminate or suspend Subsidy payments it shall provide notice to the Bank in accordance with Sub‑clause 11.2.
    7.2 Obligation of Bank on receipt of Subsidy
        The Bank agrees that it will receive and deal with Subsidy payments for the benefit of the Subsidised Borrowers and Joint Borrowers to whom they relate in accordance with the Act and this Agreement.
    7.3 Payment of Subsidy
        7.3.1 The first payment of Subsidy in respect of a Subsidised Loan shall be