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Amendment paper Bill enacted Released 17 September 2009 | Hon Trevor Mallard

Student Loan Scheme (Repayment Bonus) Amendment Bill - Amendment paper No 063

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Amendment paper Bill enacted Released 17 September 2009 | Hon Trevor Mallard

Student Loan Scheme (Repayment Bonus) Amendment Bill - Amendment paper No 063

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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.
Amendment paper Bill enacted Released 17 September 2009

Student Loan Scheme (Repayment Bonus) Amendment Bill - Amendment paper No 063

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