93
In forceLower interest rate in special circumstances
Part 8Miscellaneous
Division 2Interest rates for owner-occupied home loans
93 Lower interest rate in special circumstances
(1)
This section applies if the chief executive has made, or is proposing to make, an owner-occupied home loan to a person.
(2)
The chief executive may lower the interest rate applying, or that would otherwise apply, to the loan if the chief executive is satisfied it would be appropriate to do so because of special circumstances.
(3)
The chief executive may agree with the person on other conditions for the loan including, for example, a condition about the time for which the lower interest rate applies.
This Act’s bill:Explanatory memorandum
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