24Subsidy payable by Commonwealth

24 Subsidy payable by Commonwealth

(1) Subject to this Part, subsidy is payable by the Commonwealth to a credit provider on a subsidised advance to a person or the assignee of a person. (2) Subject to this Part, subsidy is payable by the Commonwealth to the Bank in relation to a specified portfolio asset which vests in the Bank under section 6B, or to any credit provider in relation to a subsidised advance, where the land, land and dwelling‑house or right of residence in a retirement village, to which the specified portfolio asset or advance relates has been transferred to a person to whom a certificate under section 22 has been issued in relation to that transfer. (3) Subject to this Part, subsidy is payable by the Commonwealth to the Bank on: (a) all specified portfolio assets which vest in the Bank under section 6B; and (b) all advances that the Bank is taken to have made under section 37.