Commonwealth Consolidated Acts

DEFENCE HOME OWNERSHIP ASSISTANCE SCHEME ACT 2008 - SECT 32

Scope

  (1)   This section applies if the subsidised loan is:

  (a)   for the purpose covered by paragraph   30(1)(a) (to buy a house and land), or to discharge another loan for that purpose; and

  (b)   not for the purpose of building work, or to discharge another loan for that purpose.

Subsidy condition

  (2)   The Secretary must be satisfied that the subsidised borrower, or a dependant of the subsidised borrower, occupies a house on the land as a home.

Note 1:   This condition need only be satisfied for the first year after the first authorisation day for the subsidy (see section   39).

Note 2:   In the case of a loan for the purpose of building work, a similar occupation condition applies to the continuation of entitlement to subsidy after the completion of the building work (see section   40).