Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where a subsidised loan is made to 2 entitled persons jointly, each of whom is the spouse or de facto partner of the other, then:
(a) while both of them remain entitled to a subsidy period, this Act applies in relation to the loan as if the references in paragraphs 14(1)(a), 21(1)(b) and 21(2)(e), and in subsection 22(2), to $80,000 were references to $160,000; and
(b) when only one of them remains entitled to a subsidy period, paragraph (a) stops applying and the other provisions of this Act thereafter apply in relation to the loan as if he or she were the sole subsidised borrower.
(2) If, when paragraph (1)(a) applies in relation to a loan, one of the spouses or de facto partners dies:
(a) this Act continues to apply in relation to the loan in the manner mentioned in that paragraph until:
(i) the end of the subsidy period of the deceased spouse or de facto partner as at the date of death; or
(ii) the end of the subsidy period to which the surviving spouse or de facto partner is separately entitled;
whichever happens first; and
(b) when one of those things happens, paragraph (a) stops applying and the other provisions of this Act thereafter apply in relation to the loan as if the surviving spouse or de facto partner were the sole subsidised borrower.