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Student Assistance Act 1973
12YIndexation amount
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12Y Indexation amount
An indexation amount exists in relation to the contract at a particular time (the relevant time) if: (a) subsection 12X(3) applied for the purpose of working out the amount outstanding under the contract at the relevant time; and (b) the amount outstanding under the contract at the relevant time exceeds the amount worked out using the formula: Start formula principal sum minus open bracket actual repayments plus notional repayments close bracket end formula; and the amount of the excess constitutes the indexation amount in relation to the contract at the relevant time.