1061ZZEK
In forceTransfer of corporation’s rights to Commonwealth
Volume 3Chapter 2AA, Part 2AA.1 to Chapter 3, Part 3.12 (sections 1061ZVAA to 1157)
Chapter 2BStudent Financial Supplement Scheme
Part 2B.2Payments of financial supplement under scheme to stop in certain circumstances
Division 5Payments to stop if person dies
1061ZZEK Transfer of corporation’s rights to Commonwealth
(1)
The corporation’s rights referred to in subsection (2) are transferred to the Commonwealth, by this subsection, at the earlier of:
(a)
the time when the corporation stopped making payments under the contract; or
(b)
the end of 4 weeks after the time when the notice was given.
(2)
The rights transferred are the corporation’s rights under the contract that relate to payment of financial supplement during the period:
(a)
beginning at the start of the contract period; and
(b)
ending at the end of the period of 4 weeks referred to in paragraph (1)(b).
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