Australian Apprenticeship Support Loans Act 2014
CHAPTER 3
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Loan repayments
PART 3.2
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DISCHARGING DEBTS
Division 2
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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 Australian apprenticeship 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.
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 Australian apprenticeship 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.
View history note
Hide history note40(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.