VET Student Loans Act 2016

PART 6 - RE-CREDITING HELP BALANCES

History

Pt 6 heading substituted by No 76 of 2018, s 3 and Sch 3 item 131, effective 1 January 2020. No 76 of 2018, s 3 and Sch 3 items 145 and 146 contains the following transitional provisions:

…
145 Transitional - re-credited amounts
145
If, before 1 January 2020, an amount was re-credited to a person ' s FEE-HELP balance under:

(a) Subdivision 104-B of the Higher Education Support Act 2003 ; or

(b) Subdivision 7-B of Schedule 1A to that Act; or

(c) Part 6 of the VET Student Loans Act 2016 ;
section 128-15 of the Higher Education Support Act 2003 (as amended by this Schedule) has effect as if the amount had been re-credited to the person ' s HELP balance immediately after the start of 1 January 2020.
146 Transitional - pending decisions about re-credited amounts
146
If:

(a) an application for the re-crediting of an amount to a person ' s FEE-HELP balance was made before 1 January 2020; and

(b) the application was made under:

(i) section 104-25 of the Higher Education Support Act 2003 ; or

(ii) clause 46 of Schedule 1A to that Act; or

(iii) section 72 of the VET Student Loans Act 2016 ; and

(c) no decision was made on the application before the commencement of this item;
the application has effect, after the start of 1 January 2020, as if it were an application for the re-crediting of the amount to the person ' s HELP balance.

…

Pt 6 heading formerly read:

PART 6 - RE-CREDITING FEE HELP BALANCES

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

View history reference

View history note

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

View history reference

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).

View history note

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