Trade Support Loans Act 2014

CHAPTER 3 - Loan repayments  

PART 3.2 - DISCHARGING DEBTS  

Division 2 - Completion discount  

SECTION 40   COMPLETION DISCOUNT  

40(1)  
If a designated State/Territory training authority notifies the Secretary that a person has successfully completed a qualifying apprenticeship, the Secretary must give the Commissioner a notice specifying the discount (the completion discount ) determined for the person in accordance with subsection (2).

40(2)  
The person ' s completion discount is the amount equal to 20 % of the total amount of instalments of trade support loan that were paid to the person in relation to instalment periods that ended:


(a) before the person ceased to be undertaking the qualifying apprenticeship; and


(b) if a notice under subsection (1) has previously been given in respect of an earlier qualifying apprenticeship undertaken by the person - after the person completed the earlier qualifying apprenticeship.

40(3)  
The rules may prescribe any of the following as a designated State/Territory training authority :


(a) a State;


(b) a Territory;


(c) an authority of a State or Territory.




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