Person withdraws from home equity access scheme
52ZK Person withdraws from home equity access scheme
If a person who is participating in the home equity access scheme makes a request to withdraw from the scheme, the scheme ceases to operate in relation to the person on the day on which the request is lodged.
For repayment or recovery of the debt owed by the person, see sections 52ZG and 52ZKA.
A request under subsection (1) must be signed:
if the person is not a member of a couple—by the person; or
if the person is a member of a couple—by both members of the couple.
The request must:
be in writing; and
be lodged at an office of the Department in Australia in accordance with section 5T.
A request lodged in accordance with section 5T is taken to have been made on a day determined under that section.
This Act’s bill:Second reading speech
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