COVID-19 (Temporary Measures) Act 2020 · s 7A

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—(1) This section applies to a case mentioned in section 5 where —(a)the scheduled contract is within a description of contracts prescribed as contracts to which this section applies; and(b)the subject inability is the inability to pay any money at the time it becomes due and payable.(2) Where the contract requires A to pay B any interest or other charge (however described) for the subject inability, then, despite anything in the contract, A is only liable under the contract to pay B interest or other charge not exceeding the prescribed rate (as computed in the prescribed manner) or prescribed amount in respect of the subject inability.(3) For the purposes of subsection (2), different rates, manners or amounts may be prescribed for different circumstances, and a zero rate or amount may be prescribed.(4) Subsection (2) does not apply if —(a)the notification for relief is withdrawn; or(b)an assessor makes a determination that the case in question is not one to which section 5 applies.(5) Despite any law or anything in the contract, B may not, after being served with the notification for relief in accordance with section 9(1), terminate the contract on the basis of the subject inability until after the earliest of the following:(a)the expiry of the prescribed period;(b)the withdrawal by A of A’s notification for relief; (c)on an application under section 9(2), the assessor makes a determination that the case in question is not one to which section 5 applies.(6) This section does not apply to any obligation to make payment under a statutory repayment schedule under Division 5 of Part 2A.(7) To avoid doubt, this section applies to a case mentioned in subsection (1) whether A served the notification for relief before, on or after 31 July 2020.
This section applies to a case mentioned in section 5 where —(a)the scheduled contract is within a description of contracts prescribed as contracts to which this section applies; and(b)the subject inability is the inability to pay any money at the time it becomes due and payable.
Where the contract requires A to pay B any interest or other charge (however described) for the subject inability, then, despite anything in the contract, A is only liable under the contract to pay B interest or other charge not exceeding the prescribed rate (as computed in the prescribed manner) or prescribed amount in respect of the subject inability.
For the purposes of subsection (2), different rates, manners or amounts may be prescribed for different circumstances, and a zero rate or amount may be prescribed.
Subsection (2) does not apply if —(a)the notification for relief is withdrawn; or(b)an assessor makes a determination that the case in question is not one to which section 5 applies.
Despite any law or anything in the contract, B may not, after being served with the notification for relief in accordance with section 9(1), terminate the contract on the basis of the subject inability until after the earliest of the following:(a)the expiry of the prescribed period;(b)the withdrawal by A of A’s notification for relief; (c)on an application under section 9(2), the assessor makes a determination that the case in question is not one to which section 5 applies.
This section does not apply to any obligation to make payment under a statutory repayment schedule under Division 5 of Part 2A.
To avoid doubt, this section applies to a case mentioned in subsection (1) whether A served the notification for relief before, on or after 31 July 2020.

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s 7ARelief from late payment interest or other charge

(1)

This section applies to a case mentioned in section 5 where —

(a)

the scheduled contract is within a description of contracts prescribed as contracts to which this section applies; and

(b)

the subject inability is the inability to pay any money at the time it becomes due and payable.

(2)

Where the contract requires A to pay B any interest or other charge (however described) for the subject inability, then, despite anything in the contract, A is only liable under the contract to pay B interest or other charge not exceeding the prescribed rate (as computed in the prescribed manner) or prescribed amount in respect of the subject inability.

(3)

For the purposes of subsection (2), different rates, manners or amounts may be prescribed for different circumstances, and a zero rate or amount may be prescribed.

(4)

Subsection (2) does not apply if —

(a)

the notification for relief is withdrawn; or

(b)

an assessor makes a determination that the case in question is not one to which section 5 applies.

(5)

Despite any law or anything in the contract, B may not, after being served with the notification for relief in accordance with section 9(1), terminate the contract on the basis of the subject inability until after the earliest of the following:

(a)

the expiry of the prescribed period;

(b)

the withdrawal by A of A’s notification for relief; (c)on an application under section 9(2), the assessor makes a determination that the case in question is not one to which section 5 applies.

(6)

This section does not apply to any obligation to make payment under a statutory repayment schedule under Division 5 of Part 2A.

(7)

To avoid doubt, this section applies to a case mentioned in subsection (1) whether A served the notification for relief before, on or after 31 July 2020.