Part 1Preliminary matters, loan advances, and New Zealand-based and overseas-based borrowers
Establishment of student loan
18Commissioner must notify borrowers of loan advances
The Commissioner must notify a borrower in writing if a loan advance debt that belongs to that borrower is transferred to the Commissioner in accordance with section 17(1).
The notification must—
- specify the period to which it applies, which must not be greater than 6 months; and
- set out the details of all loan advances that have been made or charged to the borrower (and that the Commissioner has been notified of in accordance with section 17(1)) during that period; and
- specify the borrower's consolidated loan balance on the first and last days of the period to which it applies; and
- set out the borrower's right, under sections 167 to 171, to object to the details of a loan advance set out in the notification; and
- state the date on or before which an objection by the borrower under section 167 must be received by the loan manager, which must be at least 31 days after the date on which the borrower is notified in accordance with this section; and
- provide any other information that the Commissioner considers appropriate.