Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to this section, the amount that shall be specified under paragraph 17(3)(a) in a certificate of entitlement issued to a person in relation to a subsidised advance that the person may seek from a credit provider is:
(a) in the case of an initial advance--such amount as the Secretary determines is necessary to give effect to the purpose for which the advance is made, being an amount that is not more than $25,000; and
(b) in the case of an additional advance--such amount as the Secretary determines is necessary to give effect to the purpose for which the advance is made, being an amount that is not more than the amount by which $25,000 exceeds:
(i) the case of an assigned advance--the sum of the amounts of the assigned advances made to the assignee in relation to the person; or
(ii) in any other case--the sum of the amounts of the contract of sale, Corporation advance, initial advance or further advance and any previous additional advance made to the person; and
(c) in the case of a widow or widower advance or an advance for essential repairs--such amount as the Secretary determines is necessary to give effect to the purpose for which the advance is made; and
(d) in the case of a further advance--an amount equal to:
(i) the limit of the last Corporation advance, subsidised advance or contract of sale in relation to which the person was a borrower or purchaser, or the assignee of the person was a borrower in respect of the person (as the case requires); or
(ii) $25,000;
whichever is less; or
(e) in the case of a home support advance--such amount as the Secretary determines is necessary to give effect to the purpose for which the advance is made, being an amount that is not more than:
(i) if no previous home support advances have been made to the person--$10,000; or
(ii) if any previous home support advances have been made to the person--$10,000 reduced by the sum of those previous advances.
(1A) In working out the limit of a person's last Corporation advance, subsidised advance or contract of sale under paragraph (1)(d), the amount of the person's last Corporation advance, subsidised advance or contract of sale is taken to include the amount of any additional advance that has subsequently been made to the person or the assignee of the person (as the case requires).
(2) Where an initial advance is made to 2 or more persons jointly (being persons included in paragraph (b) or (d) of the definition of Australian Soldier in section 4) in relation to a house or building used or to be used as a hospital, sanatorium or nursing - home, the Secretary may determine a maximum amount under paragraph (1)(a) that is more than $25,000 but shall not determine a maximum amount that is more than the sum of the maximum amounts that could have been determined if the advance had been made to each of those persons separately.
(3) Where subsidy is payable for a specified portfolio asset which vests in the Bank under section 6B, the maximum amount in respect of which subsidy is payable is an amount equal to the amount of the outstanding balance under the specified portfolio asset as at the relevant vesting date.
(4) Where the outstanding balance of a specified portfolio asset which vests in the Bank under section 6B, or of a subsidised advance, increases as a result of a grant of instalment relief to the purchaser or borrower, the maximum amount in respect of which subsidy is payable for that specified portfolio asset or subsidised advance shall be taken to have been increased by an amount equal to the amount of the increase of that outstanding balance.