Sch 24, s 12
CurrentTerms of repayment
12 Terms of repayment
(1)
The term of a loan under the scheme is the term decided by the authority up to a maximum of 10 years.
(2)
During the first 2 years of the loan, the authority must defer repayments of principal and interest under the loan.
(3)
From the start of the third year of the loan, the amounts of the repayments of principal and interest under the loan are the amounts decided by the authority.
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