Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p39
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 39/50)
Character Range: 167430–170100

of each of them.
          (ii) "Balance of the loan" means the amount of the loan lent by the Bank and outstanding from time to time, and shall include, interest accrued to the Bank hereunder, fees, costs, charges or expenses when debited to the loan account pursuant to Clauses 2, 3, 6, 8 and 10 hereof and any amount debited to the loan account pursuant to Clause 15 (a) hereof.
          (iii) "Scheme rate" means the benchmark rate of interest fixed by the Commonwealth in accordance with the Scheme from time to time.
          (iv) "Commonwealth" means the Commonwealth of Australia and shall include any Department or Departments of State of the Commonwealth or statutory authority of the Commonwealth with responsibility for administering the Scheme.
          (v) "Current interest rate" means the interest rate set out in Item 8 of the Schedule or such other rate as the Bank may hereafter fix from time to time.
          (vi) "Entitlement certificate" means the entitlement certificate issued by the Commonwealth to a person who is entitled thereto under the Scheme and who is an Applicant in respect of the loan hereby applied for.
          (vii) "Interest day" means the last working day in each calender month in each year or such date as the Bank may adopt for the purpose of debiting interest payments as set out in Item 4 of the Schedule.
          (viii) "Reference rate" means the nominal rate of interest selected by the Bank set out in Item 3 of the Schedule (if any) upon which the monthly instalments set out in Item 3 of the Schedule are assessed, or such other rate as the Bank may hereafter fix from time to time.
          (ix) "Scheme" means the Australian Defence Force Home Loan Assistance Scheme established by the Defence Force (Home Loans Assistance) Act 1990 and by the agreement made between the Bank and the Commonwealth on 5th November 1990, a copy of which is set out in Schedule 1 to the said Act, as they both are in force from time to time.
          (x) "Securities" means the securities set out in Item 6 of the Schedule, and any other securities which may be held by the Bank hereafter in respect of all or any of the Applicant's liabilities to the Bank.
          (xi) "Subsidy" means periodic subsidy payments to the Bank by the Commonwealth pursuant to the Scheme for the benefit of the Applicant in respect of the loan hereby applied for.
          (xii) Words herein used importing the singular shall include the plural and vice versa, and words importing the masculine gender shall include the feminine and neuter genders.
   2. Subject to Clause 3 hereof, interest shall accrue to the Bank for so long as the balance