Student Assistance Act 1973
Part 4A
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Financial Supplement for Tertiary Students
Division 6
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Indebtedness existing after termination date
Subdivision E
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Miscellaneous
SECTION 12ZS
12ZS
APPLICATION OF PAYMENTS
An amount paid by a person in respect of the person's indebtedness to the Commonwealth under this Division is to be applied in accordance with the direction of the person or, in the absence of such a direction or to the extent that the direction does not adequately deal with the matter:
(a) first, in discharge or reduction of any FS assessment debts of the person; and
(b) secondly, in discharge or reduction of any accumulated FS debt of the person.
An amount paid by a person in respect of the person's indebtedness to the Commonwealth under this Division is to be applied in accordance with the direction of the person or, in the absence of such a direction or to the extent that the direction does not adequately deal with the matter:
(a) first, in discharge or reduction of any FS assessment debts of the person; and
(b) secondly, in discharge or reduction of any accumulated FS debt of the person.
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