Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) When the Commonwealth under section 98G:
(a) makes a loan to a person; and
(b) uses the amount lent to make a payment in discharge of the person's liability to pay fees in respect of a course of study in respect of a semester;
the person incurs a PELS semester debt to the Commonwealth equal to the amount of the loan.
(2) The PELS semester debt is taken to have been incurred immediately after the census date for the course of study for the semester, whether or not the Commonwealth has made a payment to the institution in respect of the fees.