(1) When the Commonwealth under section 98ZA:
(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 BOTP course in respect of a study period;
the person incurs a BOTP study period debt to the Commonwealth equal to the amount of the loan.
(2) The BOTP study period debt is taken to have been incurred immediately after the census date for the BOTP course for the study period, whether or not the Commonwealth has made a payment to the institution in respect of the fees.