Document ID: chunk:federal_register_of_legislation:C2024C00637:section:58
Version: federal_register_of_legislation:C2024C00637
Segment Type: section
Provision Reference: s 58
Character Range: 83741–84774

58  How subsidy is paid—subsidy lump sum
 (1) If a subsidy lump sum is payable to a subsidised borrower, the Secretary must pay the amount, as worked out under section 54, to the loan provider in accordance with:
 (a) the loan provider agreement; and
 (b) either:
 (i) if, for the purposes of section 81, a senior employee of an authorised Commonwealth contractor is exercising the Secretary's functions under this Division under a delegation—the agreement mentioned in subsection 81(3); or
 (ii) in any other case—a determination made by the Minister for the purposes of this section.
 (2) A subsidy lump sum may be paid to a subsidised borrower only if subsidy is payable to the borrower as a subsidy lump sum during the most recently ended monthly authorisation period (see subsection 57(3)).
Note: See section 28 for when subsidy becomes payable.
 (3) A determination under subparagraph (1)(b)(ii) is a legislative instrument.

Division 5—Subsidy for surviving partners

Subdivision A—Surviving partners of subsidised borrowers