VET Student Loans Act 2016

PART 6 - RE-CREDITING HELP BALANCES  

Division 4 - Re-crediting by Secretary on discharge of debt  

SECTION 73A   WHEN SECRETARY MUST RE-CREDIT HELP BALANCE - DISCHARGE OF DEBT  

73A(1)  
If, during:


(a) the financial year starting on 1 July 2019; or


(b) a later financial year;

a payment was made in discharge of the whole or a part of a debt that a person owes to the Commonwealth under Part 3A , the Commissioner must:


(c) notify the payment to the Secretary; and


(d) do so as soon as practicable after the end of that financial year. Note 1:

The payment may be a voluntary repayment.

Note 2:

The payment may be in the form of the application of an amount against the debt.

73A(2)  
If the Secretary is so notified, the Secretary must re-credit the person ' s HELP balance with an amount equal to the amount of the payment.

Note:

Re-crediting under this Division does not have the same effect as re-crediting under Division 2 or 3 (re-crediting under those Divisions results in remission of the debt concerned: see section 23BA ). For debts incurred before 1 July 2019, see section 137-19 of the Higher Education Support Act 2003 (which applies unless an amount is re-credited under section 128-25 of that Act).




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