What the official record says
This Act is the Student Loan Scheme (First Home Repayment Diversion) Amendment Act . This Act comes into force on the day that is 6 months after the date that it receives the Royal assent. This Act amends the Student Loan Scheme Act 2011 (the ). After Part 3, insert: The purpose of this Part is to provide for a first home repayment diversion facility that allows a borrower’s compulsory repayments, or a nominated percentage of those repayments, to be diverted to a first home savings account established by the Commissioner for the borrower. In this Part, unless the context otherwise requires,— means a withdrawal made under means a payment that a borrower is required to make to meet the borrower’s repayment obligations under Part 2 means an estate in land located in New Zealand (whether alone