First Home Owner Grant Act 2000

In this section —

a repayment required, or a penalty imposed, under section 18, 21 or 51;

a payment required under section 52A(1) or 60(1).

The Commissioner may approve (with or without amendment) a written arrangement —

extending the period for paying a required repayment; or

providing for the required repayment to be made in specified instalments.

An application for the Commissioner’s approval of a proposed repayment arrangement is to set out fully and in detail the reasons why the applicant wants more time to make the required repayment.

A repayment arrangement may include —

conditions agreed with the applicant providing for the payment (and allowing for the remission) of interest at the prescribed rate or at another rate fixed by or under the arrangement with the agreement of the applicant; and

any other conditions the Commissioner considers appropriate.

The Commissioner may, by written notice given to the person with whom a repayment arrangement has been made, amend the arrangement —

by agreement with the person; or

as provided in the conditions of the arrangement.

The Commissioner may, by written notice given to the person with whom a repayment arrangement has been made, cancel the arrangement if —

a payment is not made in accordance with the arrangement; or

the person does not comply with any condition of the arrangement.

On the cancellation of a repayment arrangement, the whole of the required repayment outstanding under the arrangement, together with interest, becomes due and payable as from the date of the cancellation or the original due date for making the required repayment to which the arrangement applies, whichever is the later.

Despite the cancellation of a repayment arrangement, interest continues to accrue at the prescribed rate, or the other rate fixed by or under the agreement, until the outstanding required repayment to which the arrangement formerly applied is paid.