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Rural and Regional Adjustment Regulation 2011
sch.8-sec.12Terms of repayment
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### sch.8-sec.12 Terms of repayment
The term of a loan under the scheme is the term decided by the authority up to a maximum of 10 years.
During the first 2 years of the loan, the authority must defer repayments of principal and interest under the loan.
From the start of the third year of the loan, the amounts of the repayments of principal and interest under the loan are the amounts decided by the authority.
Despite subsection (3) , the authority may grant the applicant an interest-only period for the loan of not more than 2 years.
sch 8 s 12 orig sch 8 s 12 om 2014 SL No. 51 s 6
prev sch 8 s 12 ins 2014 SL No. 180 s 4
om 2019 SL No. 71 s 59 sch 1
pres sch 8 s 12 ins 2019 SL No. 128 s 4
(sch.8-sec.12-ssec.1) The term of a loan under the scheme is the term decided by the authority up to a maximum of 10 years.
(sch.8-sec.12-ssec.2) During the first 2 years of the loan, the authority must defer repayments of principal and interest under the loan.
(sch.8-sec.12-ssec.3) From the start of the third year of the loan, the amounts of the repayments of principal and interest under the loan are the amounts decided by the authority.
(sch.8-sec.12-ssec.4) Despite subsection (3) , the authority may grant the applicant an interest-only period for the loan of not more than 2 years.