65BFPayments repayable if conditions breached etc.

65BF Payments repayable if conditions breached etc.

(1) The NTAI Corporation may give written notice to an individual or body to whom a payment or loan has been made under this Part stating that the NTAI Corporation is satisfied that the individual or body has failed to fulfil a term or condition of the payment or loan. (2) An individual or body who is given notice under subsection (1) in relation to a payment is liable to pay to the NTAI Corporation an amount equal to: (a) the amount of the payment; or (b) so much of that payment as the NTAI Corporation specifies in the notice. (3) An individual or body who is given notice under subsection (1) in relation to a loan is liable to pay to the NTAI Corporation, immediately, an amount equal to the sum of: (a) so much of the amount of the loan as has not yet been repaid; and (b) any accrued interest that has not been paid; or so much of that amount as the NTAI Corporation specifies in the notice.