Document ID: chunk:federal_register_of_legislation:C2004A00814:clause:1_1229a:p2
Version: federal_register_of_legislation:C2004A00814
Segment Type: clause
Provision Reference: sch 1 cl 1229A (pt 2/2)
Character Range: 21276–22020

interest payable on the outstanding amount of a debt is a debt due to the Commonwealth.

 (6) If:
 (a) interest is payable on the debt; and
 (b) an amount is paid for the purpose of paying the debt and the interest;
the amount so paid is to be applied as follows:
 (c) until the debt (excluding interest) is fully paid—in satisfaction of the amount of the debt that is due when the payment is made;
 (d) after the debt (excluding interest) is fully paid—in satisfaction of the interest that had become payable on the debt before the debt was fully paid.

 (7) In this section:

arrangement means:
 (a) an arrangement entered into with the Secretary under section 1234; or
 (b) if such an arrangement has been amended—the arrangement as amended.