Document ID: chunk:federal_register_of_legislation:C2025C00014:section:109n:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 109N (pt 2/2)
Character Range: 952296–953240

ending when the old loan was refinanced.
 (3C) Reduce the maximum term under paragraph (3)(b) for a loan (the new loan) in accordance with subsection (3D) if:
 (a) the new loan results from the refinancing of another loan (the old loan); and
 (b) the maximum term of the old loan under subsection (3) was 25 years; and
 (c) the maximum term of the new loan under subsection (3) is 7 years (disregarding this subsection); and
 (d) the length of the period:
 (i) starting when the old loan was made; and
 (ii) ending when the old loan was refinanced;
  exceeds 18 years.
 (3D) The amount of the reduction is the excess mentioned in paragraph (3C)(d).

Regulations may adopt rate as published from time to time
 (4) Regulations made for the purposes of subsection (2) may apply, adopt or incorporate a rate published in an instrument after they are made or take effect, or a rate contained in an instrument from time to time despite any other Act.