Commonwealth Consolidated Acts

VET STUDENT LOANS ACT 2016 - SECT 73A

  (1)   If, during:

  (a)   the financial year starting on 1   July 2019; or

  (b)   a later financial year;

a payment was made in discharge of the whole or a part of a debt that a person owes to the Commonwealth under Part   3A, the Commissioner must:

  (c)   notify the payment to the Secretary; and

  (d)   do so as soon as practicable after the end of that financial year.

Note 1:   The payment may be a voluntary repayment.

Note 2:   The payment may be in the form of the application of an amount against the debt.

  (2)   If the Secretary is so notified, the Secretary must re - credit the person's HELP balance with an amount equal to the amount of the payment.

Note:   Re - crediting under this Division does not have the same effect as re - crediting under Division   2 or 3 (re - crediting under those Divisions results in remission of the debt concerned: see section   23BA). For debts incurred before 1   July 2019, see section   137 - 19 of the Higher Education Support Act 2003 (which applies unless an amount is re - credited under section   128 - 25 of that Act).