106Y

Application of payments

Current

(1)

Any money paid by a person to meet the person’s debts to the Commonwealth under this Chapter is to be applied in payment of those debts as directed by the person.

(2)

If:

(a)

the person has not given any directions; or

(b)

the directions given do not adequately deal with the matter;

any money available is to be applied as follows:

(c)

first, in discharge or reduction of any HEC assessment debts of the person;

(d)

secondly, in discharge or reduction of any accumulated HEC debt of the person;

(e)

thirdly, in discharge or reduction of:

(i)

any semester debt of the person; or

(ii)

if there is more than one such debt, those debts in the order in which they were incurred; or

(f)

fourthly, in discharge or reduction of:

(i)

any HELP debt of the person; or

(ii)

if there is more than one such debt, those debts in the order in which they were incurred.

(3)

In this section:

HELP debt has the same meaning as in the Higher Education Support Act 2003.

This Act’s bill:Second reading speech

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