Supplementary Order Paper No 63

  • withdrawn on 17 September 2009

No 63

House of Representatives

Supplementary Order Paper

Tuesday, 15 September 2009

Student Loan Scheme (Repayment Bonus) Amendment Bill


Proposed amendment

Hon Trevor Mallard, in Committee, to move the following amendment:

Clause 4

To insert the following section after new section 45F (after line 5 on page 6):

45FA Commissioner must advise borrowers to seek financial advice
  • The Commissioner must, in all material that provides information about repayment bonuses and that is made available to all borrowers, include a statement to the effect that borrowers are advised to seek appropriate financial advice before making additional repayments in order to obtain a 10% bonus.


Explanatory note

The amendment to clause 4 to insert a new section 45FA introduces a requirement that the Commissioner of Inland Revenue must, in all material that provides information about repayment bonuses and that is made available to all borrowers, include a statement to the effect that borrowers are advised to seek appropriate financial advice before making additional repayments in order to obtain a 10% bonus.