Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p18
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 42595–45137

to which the notice relates shall be taken to have been cancelled, and ceases to be payable, at the end of any period during which the Commonwealth is required to continue paying subsidy under subclause 11.16 of the agreement.
"(3) The Secretary shall cause a copy of a notice under subsection (1) to be given to the relevant purchaser, borrower or transferee.
"(4) Where subsidy ceases to become payable under this section the Secretary shall notify the relevant purchaser, borrower or transferee accordingly.

Deferral of subsidy by Minister
"28. The Minister may, by notice in writing given to the Bank, defer payments of subsidy to the Bank in accordance with clause 12 of the agreement.

Recovery of subsidy
"29. (1) Where subsidy in relation to a person ceases to be payable under section 26 or 27 for a reason referred to in paragraph 26 (1) (a), (b) or (c) or subsection 26 (2), or paragraph 27 (1) (a), (b) or (c), the Secretary may, by notice in writing given to the person, require the person to pay to the Commonwealth the amount specified in the notice in the manner, and within the period, specified in the notice.
     "(2) The Secretary may specify in a notice an amount equal to:
     (a) where paragraph 26 (1) (a) or (b) or paragraph 27 (1) (a) or (b) applied—the whole of the amount of subsidy paid in respect of the person;

     (b) where paragraph 26 (1) (c) or 27 (1) (c) applied—the whole of the amount of subsidy paid in respect of the person since the day when the use referred to in that paragraph happened; or
     (c) where subsection 26 (2) applied—the whole of the amount of subsidy paid in respect of the person since the day when the person agreed or arranged to transfer the relevant land, or land and dwelling-house;
or such part of that amount of subsidy as the Secretary determines to be reasonable.
"(3) The Secretary shall cause a copy of a notice under this section to be given to the Bank.
"(4) Subject to this section, where a person fails to comply with a notice, the amount specified in the notice may be recovered from the person in a court of competent jurisdiction as a debt due to the Commonwealth.
"(5) Where:
     (a) the Bank sells any property of a person by way of enforcing a specified portfolio asset or a mortgage securing a subsidised advance; and
     (b) the Secretary has given the person a notice under this section;
    the Bank shall pay to the Commonwealth an amount equal to:
     (c) the part of the proceeds of the sale that, but for this subsection, would have been payable