Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p4
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 4/51)
Character Range: 170322–173599

Advances and certain other agreements.

    G. The Commonwealth and the Bank acknowledge that this Agreement is dependent upon the passage of legislation governing same, by the Parliament of the Commonwealth of Australia.

NOW THEREFORE IT IS AGREED AS FOLLOWS:

    1. DEFINITIONS AND INTERPRETATIONS

In this Agreement except where the context otherwise requires:

    1.1 Definitions

Act:                                  means the Defence Service Homes Act 1918 as amended as at the date of signing of this Agreement.
Agreement:                            means this Agreement between the Commonwealth and the Bank signed on the above date.
Amended Act:                          means the Defence Service Homes Act 1918 as amended by the Amending Act or any subsequent amendment.
Amending Act:                         means the Defence Service Homes Amendment Act 1988.
Arrears:                              means any amount of principal and/or interest due and unpaid by a Borrower under a Specified Portfolio Asset or Subsidised Advance.
Balance:                              means the original amount lent to a Borrower, less all actual repayments of principal and all prepayments of principal (including any moneys held pursuant to a loan interest offset arrangement) plus unpaid interest and unpaid fees.
Borrower:                             means a person who is liable to pay the outstanding amount:
                                      (a) of a Subsidised Advance in respect of which a subsidy is payable; or
                                      (b) secured by a Specified Portfolio Asset which vests in the Bank under section 6B of the Amended Act in respect of which Subsidy is payable.
Business Day:                         means a day upon which banks are open for business in Sydney.
Calendar Year:                        means a period of twelve (12) months commencing on 1 January.
Certificate of Entitlement:           means a Certificate of Entitlement issued by the Commonwealth to an Entitled Applicant.
Consideration:                        means the moneys payable by the Bank in accordance with Clause 3.
Corporation:                          means the Defence Service Homes Corporation.
Corporation advance:                  means an advance made under Section 20 of the Act as in force before the Date of Proclamation, being an advance made by the Corporation, whether before or after that day.
Date of Proclamation:                 means the day on which section 10 of the Amending Act commences.
Entitled Applicant:                   means a person who is determined by the Commonwealth to be entitled to a Corporation Advance, a Subsidised Advance, Instalment Relief or to a Transfer of Land and Subsidy pursuant to the Act and/or the Amended Act.
Establishment Fees:                   means any fee charged by the Bank to a Housing Loan Customer relating to or dealing with the Bank's services for the processing and determining of applications for owner occupied housing loans secured by first mortgage or applications for increased loan facilities in relation to housing loans, including the preparation and execution of all associated documentation and payment of such loans, including the management, repayment and discharge of the loan