19Decision to give subsidy certificate—loan discharged due to destruction or compulsory sale of house

19 Decision to give subsidy certificate—loan discharged due to destruction or compulsory sale of house

The Secretary must give a subsidy certificate to the applicant if the Secretary is satisfied that: (a) a subsidised loan to the applicant is discharged because property that secured the loan is: (i) destroyed; or (ii) compulsorily acquired under a law of the Commonwealth, a State or a Territory; or (iii) sold or transferred under an order of a court, other than an order made under the Bankruptcy Act 1966 or in proceedings for the recovery of a debt; and (b) the applicant was a subsidised borrower in respect of the subsidised loan immediately before the loan was discharged; and (c) the application is made within 12 months after the subsidised loan is discharged.