STUDENT ASSISTANCE ACT 1973

Part 4A - Financial Supplement for Tertiary Students  

Division 5 - Repayments of financial supplement during contract period  

SECTION 12Y   12Y   INDEXATION AMOUNT  
An indexation amount exists in relation to the contract at a particular time (the relevant time) if:


(a) subsection 12X(3) applied for the purpose of working out the amount outstanding under the contract at the relevant time; and


(b) the amount outstanding under the contract at the relevant time exceeds the amount worked out using the formula:


principal sum - (actual repayments + notional repayments);

and the amount of the excess constitutes the indexation amount in relation to the contract at the relevant time.




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