Federal Register of Legislation
Defence Service Homes Amendment Act 1997
No. 183, 1997
Defence Service Homes Amendment Act 1997
No. 183, 1997
An Act to amend the Defence Service Homes Act 1918, and for related purposes
Contents 1 Short title..................................1 2 Commencement..............................1 3 Schedule(s).................................2
Schedule 1—Amendment of the Defence Service Homes Act 1918 3
Defence Service Homes Amendment Act 1997
No. 183, 1997
An Act to amend the Defence Service Homes Act 1918, and for related purposes
[Assented to 27 November 1997]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Defence Service Homes Amendment Act 1997.
2 Commencement
This Act commences on the day on which it receives the Royal Assent.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Amendment of the Defence Service Homes Act 1918
1 After paragraph 17(3)(d) Insert: (da) contain a statement setting out the effect of section 35AA (which, in some situations, reduces the rate of interest payable on a subsidised advance); and
2 Section 33 Repeal the section, substitute:
33 Rate of interest on additional advances
The rate of interest that must be specified under paragraph 17(3)(d) in a certificate of entitlement in relation to an additional advance that a person may seek from the Bank is 6.85% per year.
3 Subsection 34(1) After "per year", insert "(disregarding section 35AA)".
4 Paragraph 34(2)(a) After "that applied", insert "(disregarding section 35AA)".
5 After subsection 34(2) Insert:
(2A) For the purposes of this section, in determining the rate of interest that was payable in relation to a previous advance at any time before 5 January 1998, apply sections 35AB and 35AC as if the application of those sections were not limited to the calculation of interest for 5 January 1998 and later days.
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