39When subsidy stops being payable—occupation of house as a home (non‑building loan)

39 When subsidy stops being payable—occupation of house as a home (non‑building loan)

Scope (1) This section applies if the subsidised loan is: (a) for the purpose covered by paragraph 30(1)(a) (to buy a house and land), or to discharge another loan for that purpose; and (b) not for the purpose of building work, or to discharge another loan for such a purpose. Subsidy condition (2) At any time during the period covered by subsection (3), the subsidised borrower, or a partner or dependant of the subsidised borrower, must occupy a house on the land as a home. (3) This subsection covers the period: (a) starting on the first authorisation day for the subsidy; and (b) ending: (i) 1 year after that day; or (ii) if the Secretary is satisfied that there are service requirements, or exceptional circumstances, justifying a shorter period of occupation—at an earlier time approved by the Secretary in writing.