41
In forceApplication of completion discount
Chapter 3Loan repayments
Part 3.2Discharging debts
Division 2Completion discount
41 Application of completion discount
If the Secretary notifies the Commissioner of a completion discount for a person under section 40, the amount of the completion discount is to be applied as follows:
(a)
first, in discharge or reduction of any accumulated AASL debt of the person;
(b)
second, in discharge or reduction of:
(i)
any AASL debt of the person; or
(ii)
if there is more than one such debt, those debts in the order in which they were incurred.
This Act’s bill:Explanatory memorandumSecond reading speech
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