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Veterans' Affairs (1995-96 Budget Measures) Legislation Amendment Act 1995

Document

SCHEDULE 1

AMENDMENTS TO THE DEFENCE SERVICE HOMES ACT 1918

Application

Despite the amendments made by this Schedule, section 36 of the Defence Service Homes Act 1918, as in force immediately before the commencement of this item, continues to apply in respect of certificates of entitlement in relation to a further advance that a person may seek from the Bank, if:

(a) subsidy was not payable on 9 May 1995 in relation to the advance (whether a Corporation advance, initial advance, additional advance or further advance) in respect of which the person is or was a borrower, or the contract of sale, in respect of which the person is or was a purchaser, directly preceding the further advance in question; and

(b) the prescribed period, as defined in subsection 36(4) of the Defence Service Homes Act 1918, as in force immediately before the commencement of this item, equals or exceeds 25 years as at 9 May 1995.