1061ZZCP
In forceCorporation’s rights at end of contract period
Volume 3Chapter 2AA, Part 2AA.1 to Chapter 3, Part 3.12 (sections 1061ZVAA to 1157)
Chapter 2BStudent Financial Supplement Scheme
Part 2B.1Establishment of scheme
Division 13Early repayments of financial supplement
Subdivision CWhat happens at the end of the contract period
1061ZZCP Corporation’s rights at end of contract period
(1)
This section applies if, at the end of the contract period of a financial supplement contract made by a participating corporation, the corporation’s rights under the contract have not previously been transferred to the Commonwealth.
(2)
The corporation’s rights under the contract are, by this subsection, transferred to the Commonwealth at the end of the contract period.
(3)
If the principal sum exceeds the total of the amounts repaid and the amounts notionally repaid, the Commonwealth must pay the excess to the corporation.
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