COVID-19 (Temporary Measures) Act 2020 · s 56

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s 56Revised repayment schedule to form part of specified contract

Where —

(a)

B and B’s assignees do not object to A’s proposed revised repayment schedule under section 54(1);

(b)

the adjustment relief Registrar refuses to accept any notice of objection for lodgment under section 54(3);

(c)

every notice of objection served and lodged is withdrawn under section 55; or

(d)

the adjustment relief assessor dismisses all of B’s and B’s assignees’ objections,then —

(e)

the revised repayment schedule forms part of the specified contract as from the date of the notice of revision, and prevails over any term of the specified contract to the extent of any inconsistency between them; and

(f)

A is discharged from any liability to pay any interest or charge mentioned in section 53(5)(b).