Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p8
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 8/50)
Character Range: 88982–91843

person that the Bank has an exclusive right under this Agreement to participate as the lender under the Scheme; and
          (b) provide the person with an application for an Entitlement Certificate.
       5.2.3 The parties acknowledge that a person who wishes his or her right to an Entitlement Certificate to be determined may apply for the issue of an Entitlement Certificate at any time whether or not the person has at that time purchased a property or obtained, or applied for, a loan from the Bank.
       5.2.4 Where the Commonwealth has determined that a person is entitled to an Entitlement Certificate it shall forward a copy of the Entitlement Certificate to any branch of the Bank nominated by the person.
       5.2.5 An Entitlement Certificate shall include the particulars set out in Schedule B.
         5.3 Application for Subsidised Loan
       5.3.1 Where an Entitled Person wishes to apply for a Subsidised Loan the person shall lodge with the Bank:
            (a) loan application documents reasonably required by the Bank;
            (b) an application for payment of Subsidy which is completed except for Part D of the application; and
            (c) an Entitlement Certificate in which the Entitled Person's entitlement to Subsidy is stated.
         Upon receipt of the above documents, the Bank shall consider the application for the Subsidised Loan.
         5.3.2 An Application for Payment of Subsidy shall include the particulars set out in Schedule B and Part D of the application shall be in the form set out in Schedule C.
         5.3.3 The Bank shall consider and assess an application for a Subsidised Loan in accordance with the Lending Criteria and shall advise the Entitled Person of the outcome within fifteen (15) days from the date of receipt of the documents specified in Sub‑clause 5.3.1.
         5.4 Obligation of the Bank to make a Subsidised Loan
         5.4.1 Where an Entitled Person satisfies the Lending Criteria and provides security in accordance with Sub‑clause 5.12, the Bank shall make a Subsidised Loan of an amount sought in the application for the Subsidised Loan on the date specified by the Entitled Person.
          5.4.2 After making a Subsidised Loan in accordance with Sub‑clause 5.4.1 a Manager of a branch of the Bank shall complete Part D of the application for Payment of Subsidy and shall attach to it all documents supplied by the Entitled Person in support of the application. The Bank shall then immediately forward to the Commonwealth by registered mail the Application for Payment of Subsidy and documents in support of the application.
          5.4.3 Nothing in this Agreement shall be construed as:
            (a) preventing the Bank from making or agreeing to make a Housing Loan to a person who has not obtained an Entitlement Certificate; or
            (b) obliging the