Section 24 - Subsidy payable by Commonwealth
(1)Subject to this Part, subsidy is payable by the Commonwealth to a credit provider on a subsidised advance to a person or the assignee of a person.
(2)Subject to this Part, subsidy is payable by the Commonwealth to the Bank in relation to a specified portfolio asset which vests in the Bank under section 6B, or to any credit provider in relation to a subsidised advance, where the land, land and dwelling-house or right of residence in a retirement village, to which the specified portfolio asset or advance relates has been transferred to a person to whom a certificate under section 22 has been issued in relation to that transfer.
(3)Subject to this Part, subsidy is payable by the Commonwealth to the Bank on:
(a)all specified portfolio assets which vest in the Bank under section 6B; and
(b)all advances that the Bank is taken to have made under section 37.
24A - Condition of payment of subsidy—subsidy under one scheme only
(1) This section applies if subsidy (2008 Act subsidy) is, or has ever been, payable to a person under the Defence Home Ownership Assistance Scheme Act 2008.
(2) Subsidy is not payable by the Commonwealth to a credit provider on a subsidised advance to the person or the assignee of the person on or after the earliest day the 2008 Act subsidy became payable."
Section 41 - Appropriation
The following payments by the Commonwealth to a credit provider shall be made out of the Consolidated Revenue Fund, which is appropriated accordingly:
(a)payments of subsidy;
(b)payments under subclause 4.7 of the Bank agreement or under the corresponding provision of any other agreement.
[Note: subclause 4.7 covers excess credits at vesting.]