VET Student Loans Act 2016
(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.
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).