40Completion discount

40 Completion discount

(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). (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. (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.