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First Home Owner Grant and Shared Equity Act 2000
24BMeaning of “shared equity scheme”
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24B Meaning of “shared equity scheme”
24B Meaning of “shared equity scheme”
In this Part—
shared equity scheme means a scheme established under this Part that enables a person who is purchasing property to enter into an agreement with the State under which—
(a) the State contributes a portion of the—
(i) purchase price, and
(ii) associated construction costs, if relevant, and
(b) the State obtains an interest in the property.
s 24B: Ins 2022 No 63, Sch 2[2].