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This part of the General Orders deals with DSH's relationship with the Bank. It relates specifically to the verification and payment of the subsidy, rather than the reasons for which a subsidy can be provided.
Under the Agreement between the (Commonwealth) Government and the Westpac Banking Corporation, Westpac has exclusive right and is responsible for all lending. Implicit in these arrangements is the responsibility for maintenance of clients' DSH loan accounts. The Government's main responsibilities under the Subsidy Scheme are the:
- determination of eligibility and entitlement to assistance under the Scheme;
- payment of subsidy in relation to both vested assets and those new loans provided by Westpac; and
- monitoring of the operation of the Subsidy Scheme including Westpac's involvement.