Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p23
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 23/51)
Character Range: 219659–222521

the Bank to the applicant shall not be a Subsidised Advance or Instalment Relief pursuant to this Agreement.
    7.11 Non‑discrimination
    The Bank agrees that it will not discriminate against or differentiate other than as provided in this Agreement between an Entitled Applicant and its other Housing Loan Customers where the Entitled Applicant seeks only a Subsidised Advance, or Instalment Relief and/or a consent to Transfer of Land and Subsidy and does not seek or apply for a further loan from the Bank.
    7.12 Treatment of Arrears
    The Bank agrees that in the treatment of Arrears, it will treat Borrowers no less favourably than its owner‑occupied Housing Loan Customers. In particular, the Bank agrees that it will not impose any penalty interest, fine or other charge on the Borrower.
    7.13 Review of Commonwealth determination
           7.13.1 An applicant may seek to have the Commonwealth's determination reviewed in accordance with the review mechanism provided under the Amended Act, and should such review result in the Commonwealth's determination being amended, the Commonwealth shall advise the Bank and the applicant of the result of the review by issuing a further Certificate of Entitlement and the Bank shall, subject to Sub‑clause 7.5, provide a Subsidised Advance and/or Instalment Relief and/or give effect to the Commonwealth's consent to a transfer of Land and Subsidy in accordance with that Certificate.

    8. SUBSIDISED ADVANCES/INSTALMENT RELIEF/TRANSFER OF LAND AND SUBSIDY
    8.1 Repayment of Subsidised Advance
    The Bank agrees that a Subsidised Advance shall be repayable in equal monthly instalments comprising principal and interest with the interest being calculated each month on the outstanding principal at the end of each preceding month.
    8.2 Initial Advances—Description
    The Bank agrees that the initial advance made by the Bank to an Entitled Applicant who has not previously been a Borrower shall be a Subsidised Advance up to a maximum amount of twenty five thousand dollars ($25,000) repayable over a term not exceeding twenty five (25) years or such other amount or term as may be agreed upon between the parties.
    8.3 Security
    The Bank agrees that all Subsidised Advances shall be secured by way of a first mortgage over the Entitled Applicant's holding as defined in the Act, except that:
       (a) where a Borrower has not previously obtained a Subsidised Advance in an amount up to that to which he is entitled, but subsequently does receive such an additional advance, that additional advance must be secured either by way of a first mortgage or if this is not possible by way of a second mortgage over that Borrower's holding as defined in the Act; or
       (b) where the Borrower is a purchaser under a Portfolio Contract of Sale, any additional Subsidised Advance may be