Subsection   4 A (2)

(a) Omit "Any such husband and wife", substitute "A husband and wife who are joint tenants".

(b) Omit "an eligible person", substitute "a".

(c) Omit "this Act", substitute "the mortgage, contract of sale or other security".

Subsection   18A(3)

Omit "The cost so allotted", substitute "The cost allotted to a dwelling - house by the Corporation under subsection   18A(1) of the Defence Service Homes Act 1918 as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 for the making of roads or other facilities affording access to the dwelling - house or for connecting sewerage, drainage, water, gas and electric power and lighting systems to the dwelling - house".

Subsection   18A(3A)

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Subsection   18A(3B)

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Subsection   18A(4)

(a) After "section   36" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under subsection   6B (9) of the Defence Service Homes Act 1918 ".

(b) Omit "or advance under this Act", substitute ", mortgage or other security".

Section   19

(a) Omit subsections   (1), (1A), (2), (3) and (4).

(b) Omit from subsection   (6) "to the Corporation".

(c) Insert in subsection   (6) "as those provisions apply as terms or conditions of a portfolio asset which vests in the Bank under subsection   6B(9) of the Defence Service Homes Act 1918 " after "regulations".

(d) Omit from subsection   (6) "prescribed notice", substitute "notice prescribed in regulation   10 as that provision applies as a term or condition of a portfolio asset which vests in the Bank under subsection   6B(9) of the Defence Service Homes Act 1918 ".

(e) Omit from subsection   (6) "prescribed form", substitute "form prescribed in regulation   9 as that provision applies as a term or condition of a portfolio asset which vests in the Bank under subsection   6B(9) of the Defence Service Homes Act 1918 ".

(f) Insert in subsection   (6) ", together with such other documentation setting out terms of repayment as is required by the Bank," after "contract of sale" (third occurring).

(g)   Omit subsection   (7), substitute the following subsection:

"(7) The mortgage and documentation executed by the person under subsection   (6) must provide for:

(a) interest to be payable on the amount secured under the mortgage, being the balance of the amount payable under the contract of sale immediately before the date of the mortgage, at the same rate that was payable on that balance;

(b) where different rates of interest were payable on different parts of the balance referred to in paragraph   (a), the amount secured by the mortgage is to be taken to be divided into equivalent parts with the rate of interest payable on each of those parts to be the same as that payable on the equivalent part of the balance;

(c) the repayment period for the amount secured by the mortgage to be the period over which the balance referred to in paragraph   (a) would have been payable under the contract of sale;

(d) the amount of each monthly instalment required to repay the amount secured by the mortgage to be the same instalment required to repay the balance referred to in paragraph   (a) under the contract of sale; and

(e) such other terms and conditions as are applicable to a subsidised advance within the meaning of the Defence Service Homes Act 1918 .".

(h) Omit from subsection   (8) "this section", substitute "subsection   19(6) of the Act as that provision applies as a term or condition of a portfolio asset which vests in the Bank under subsection   6B(9) of the Defence Service Homes Act 1918".

Subsection   27(1)

Omit "this Act", substitute "the Defence Service Homes Act 1918 as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 ".

Subsection   27(2)

Omit "this Act or the Regulations thereunder", substitute "the mortgage, contract of sale or other security".

Subsection   29(1)

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Subsection   29(1A)

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Subsection   29(1C)

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Subsection   29AA(3)

Omit "A reduction under the last preceding subsection in the amount of the instalment", substitute "A reduction, approved by the Minister under subsection   29AA(2) of the Defence Service Homes Act 1918 as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 in the amount of the instalment required to be paid under the contract of sale, mortgage or other security".

Subsection   29AA(6)

(a) After "work done" insert "by the Corporation to keep in good order and repair the buildings, fences, fixtures and other improvements on the land".

(b) After "payments made" insert "by the Corporation to pay rates, taxes, charges or other outgoings in relation to the land or land and dwelling - house".

(c) Omit "under subsection   (4) or subsection   (5)", substitute "by the Minister under subsection   29AA(4) or (5) of the Defence Service Homes Act 1918 as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 ".

(d) Omit ", subject to subsection   (8),".

Subsection   29AA(7)

After "section   36" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ".

Subsection   29AB(3)

Omit "The reduction under subsection   (2) in the amount of the instalment", substitute "A reduction, approved by the Minister under subsection   29AB(2) of the Defence Service Homes Act 1918 as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 , in the amount of the instalment required to be paid under the contract of sale, mortgage or other security".

Section   30

(a) Omit subsection   (3).

(b) Insert in paragraph   (4)(b) "of the Defence Service Homes Act 1918 as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 " after "20A".

Subsection   30A(1)

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Subsection   30A(2)

Omit from paragraph   (a) "this Act or the regulations, or".

Subsection   30A(2A)

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Subsection   30A(3)

Omit "this Act", substitute "the mortgage, contract of sale or other security".

Subsection   30A(4)

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Subsection   30A(7)

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Section   31

(a) Omit from paragraph   (2)(a) "10 per centum per annum", substitute "the rate determined by the Bank".

(b) Insert in paragraph   (2)(b) "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 " after "section   36".

(c) Omit from paragraph   (2)(b) "or advance under this Act", substitute "mortgage or other security".

Section   32

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Section   32A

Omit from subsection   (2) "section   4A", substitute "section   4A of the Defence Service Homes Act 1918 as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 ".

Section   34

Omit "or 33".

Subsection   35(1)

Omit paragraph   (1)(b).

Subsection   35(1A)

Omit "in pursuance of paragraph   (b) of the last preceding subsection, to a person who is not an eligible person,", substitute "without the consent of the Bank".

Subsection   35(2A)

(a) Omit "Corporation under paragraph   (b) of the last preceding subsection in respect of", substitute "Commonwealth or Corporation in respect of the transfer of".

(b) Omit "Corporation may", substitute "Bank may".

Subsection   35(4)

After "section   36" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ".

Subsection   35(5)

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Subsection   35(6)

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Subsection   36(1)

(a) Omit "or advance under this Act", substitute "mortgage or other security".

(b) Omit "although no legal demand has been made for payment".

Subsection   36(1A)

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Subsection   36(1B)

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Subsection   36(1C)

(a) Omit from paragraph   (a) "10 per centum per annum", substitute "the rate determined by the Bank".

(b) Omit from paragraph   (b) "this Part", substitute "this provision".

Subsection   36(2)

Omit "to the Commonwealth for payment by the Commonwealth to the persons appearing to the Minister to be entitled to receive it", substitute "to the person legally entitled to receive it".

Subsection   36(3)

Omit "or advance under this Act", substitute ", mortgage or other security".

Subsection   36(4)

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Subsection   36A(1)

(a) Omit "Corporation" (other than the first two times occurring), substitute "Bank".

(b) Omit "transfer his interest in the dwelling - house or".

(c) Omit "transfer his interest or".

Subsection   36A(3)

(a) Omit "to transfer his interest to the Corporation or".

(b) After "section   36" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ".

Subsection   38(4D)

(a) Omit "by reason of an advance or sale by the Corporation".

(b) Omit from paragraph   (a) "Corporation", substitute "Defence Service Homes Insurance Scheme".

(c) Insert in paragraph   (b) "or is approved by the Bank from time to time" after "with the Corporation".

Subsection   38(4E)

(a) Omit "(4D)", substitute "38(4D) of the Defence Service Homes Act 1918 (as in force before the commencement of section   10 of the Defence Service Homes Amendment Act 1988 ) as a term or condition under section   6B of that Act as in force on or after that commencement".

(b) Omit "with the Corporation", substitute "under the Defence Service Homes Insurance Scheme".

(c) Omit "to the Corporation" (second time occurring), substitute "to the Commonwealth".

(d) Omit "by the Corporation", substitute "under the Defence Service Homes Insurance Scheme".

Subsection   43(1)

(a) Omit "by this Act", substitute "in relation to a contract of sale, mortgage or other security".

(b) Omit from paragraph   (a) "purchased from, or in respect of which an advance has been made by, the Corporation", substitute "secured by the contract of sale, mortgage or other security".

(c) Omit from subparagraph   (b)(ii) "purchased from, or in respect of which an advance has been made by, the Corporation", substitute "secured by the contract of sale, mortgage or other security".

Subsection   43(2)

(a) Omit "this Act or the Regulations", substitute "a contract of sale, mortgage or other security".

(b) Omit "by the holder of an office specified by the Corporation by notice published in the Gazette ", substitute "by an officer of the Bank".

Section   44

Omit "Notwithstanding any other provision of this Act, where", substitute "Where".

Section   45

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Section   46

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Section   48AB

(a) Omit from subsection   (1) "The Minister may, either generally or with respect to a particular case or a particular class of cases, give directions to the Corporation with respect to the payment by the Corporation of rates,", substitute "The Bank may pay rates, insurance premiums,".

(b) Omit from subsection   (2) "in accordance with a direction under the last preceding subsection".  

(c) Omit from paragraph   (2)(b) "at 10 per centum per annum", substitute "at such rate as the Bank determines".

Section   48B

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Section   48C

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Section   49

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Regulation   9

(a) After "of the Act" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ".

(b) After "is situated" insert "and which is otherwise in a form acceptable to the Bank".

Regulation   10

After "of the Act" insert "as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ".

Regulation   13

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Regulation   14

Omit "Subject to section   17B of the Act, each", substitute "Each".

Regulation   15

(a) Omit "by the Corporation", substitute "by a Manager of the Bank".

(b) After "Corporation shall" insert ", as between the Bank and the purchaser, borrower, tenant or applicant,".

Regulation   17

(a) Omit from paragraph   (b) "in accordance with an agreement for the erection, completion or enlargement of a dwelling - house by the Corporation under section   17A of the Act,".

(b) Omit "the mortgage or by the Act or these Regulations", substitute "a term or condition of the mortgage".

Regulation   18

(a) After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

(b) Omit from subregulation   (1) "with the Act", substitute "with that subsection".

Regulation   20

After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

Regulation   21

(a) Omit "it is proved to the satisfaction of the Corporation that".

(b) After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

Regulation   24

Omit "for the purposes of section   46 of the Act".

Subregulation   32(1)

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Regulation   33

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Regulation   35

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Regulation   36

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Regulation   37

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Regulation   38

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Regulation   39

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Regulation   40

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Regulation   42

(a) Omit from paragraph   (a) "satisfactory to", substitute "to the reasonable satisfaction of".

(b) Omit from paragraph   (b) "approved by the Corporation".

(c) Omit paragraph   (c).

Regulation   43

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Regulation   44

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Regulation   74A

After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

Subregulation   74B(1)

After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

Subregulation   74B(2)

After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

Subregulation   74C(1)

(a) After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

(b) Omit "in accordance with Form B".

Subregulation   74C(2)

After "of the Act" insert ", as that provision applies as a term or condition of a portfolio asset which vests in the Bank under section   6B of the Defence Service Homes Act 1918 ,".

Regulation   74E

Omit "under this Part", substitute "of determination of tenancy".

Regulation   74F

(a) Omit "under this Part", substitute "of determination of tenancy".

(b) Omit ", in accordance with Form CA,".