sch.24-sec.2Purpose of assistance

### sch.24-sec.2 Purpose of assistance The purpose of assistance under the scheme is to provide concessional loans to an eligible entity— to pay for costs of repairing or replacing assets lost or damaged because of an eligible disaster; or to provide the eligible entity with working capital; or for assistance relating to the 2019–2020 extraordinary bushfire disaster—to refinance an eligible commercial loan. For subsection (1) (a) , repairing or replacing assets includes, for example, the following— repairing or replacing damaged plant, equipment or buildings; purchasing replacement stock or livestock; restoring, re-planting or establishing an area of land to replace damaged crops. However, assistance under the scheme is not intended to compensate eligible entities for loss of income suffered because of an eligible disaster. sch 24 s 2 prev sch 24 s 2 ins 2013 SL No. 26 s 4 om 2014 SL No. 51 s 6 AIA s 20A applies (see s 8) pres sch 24 s 2 ins 2020 SL No. 29 s 13 amd 2020 SL No. 214 s 4 (sch.24-sec.2-ssec.1) The purpose of assistance under the scheme is to provide concessional loans to an eligible entity— to pay for costs of repairing or replacing assets lost or damaged because of an eligible disaster; or to provide the eligible entity with working capital; or for assistance relating to the 2019–2020 extraordinary bushfire disaster—to refinance an eligible commercial loan. (sch.24-sec.2-ssec.2) For subsection (1) (a) , repairing or replacing assets includes, for example, the following— repairing or replacing damaged plant, equipment or buildings; purchasing replacement stock or livestock; restoring, re-planting or establishing an area of land to replace damaged crops. (sch.24-sec.2-ssec.3) However, assistance under the scheme is not intended to compensate eligible entities for loss of income suffered because of an eligible disaster. - (a) to pay for costs of repairing or replacing assets lost or damaged because of an eligible disaster; or - (b) to provide the eligible entity with working capital; or - (c) for assistance relating to the 2019–2020 extraordinary bushfire disaster—to refinance an eligible commercial loan. - (a) repairing or replacing damaged plant, equipment or buildings; - (b) purchasing replacement stock or livestock; - (c) restoring, re-planting or establishing an area of land to replace damaged crops.