Homes Savings Grant Act 1971 (Cth)

Homes Savings Grant

No. 112 of 1971

An Act to amend section 20 of the Homes Savings Grant Act 1964–1970.

[Assented to 6 December 1971]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Homes Savings Grant Act 1971.

(2.) The Homes Savings Grant Act 1964–1970, as amended by this Act, may be cited as the Homes Savings Grant Act 1964–1971.

Commencement.

2.This Act shall come into operation on the day on which it receives the Royal Assent.

Grants.

3. Section 20 of the Homes Savings Grant Act 1964–1970 is amended—

(a) by inserting after sub-paragraph (i) of paragraph (e)of sub-section (2.) the following sub-paragraph:—

“(ia) a loan has been made to the purchaser by a State or a State authority in connexion with the purchase and the payments in respect of that loan are, by reason of a grant of financial assistance to the State to which sub-section (2.) of section 8 of the States Grants (Housing) Act 1971 applies, less than they would otherwise have been;”; and

(b) by inserting after sub-paragraph (ii) of paragraph (e)of sub-section (2.) the following sub-paragraph:—

“(iia) the dwelling-house is being purchased from a State or a State authority under a contract that provides for the payment of the purchase price or part of the purchase price by instalments and the payments under the contract are, by reason of the grant of financial assistance to the State under section 5 of the States Grants (Housing) Act 1971