What are the exact benefits of the Chancellor's Scholars Program?

[horizon]

I hear that the Chancellor's Scholars Program is a scholarship for your 3 year undergrad degree with a guaranteed entry into the post-grad course of your choice.
Is this right?

What are the conditions for the program?
Are there any other benefits other than the ones I've outlined?

[jasrulz63]

http://www.futurestudents.unimelb.edu.au/admissions/entry-requirements/chancellors-scholars-programs

Benefits

Students selected into one of these degrees will receive the following:

Domestic students will receive a Melbourne National Scholarship, providing:

    HECS exempt Commonwealth Supported Place (CSP); and
    Annual allowance of $5000; or
    For interstate students an annual allowance of $10,000 and one return flight home.

International students will be considered for International Undergraduate Scholarships that range from full fee remission down to $10,000 fee remission.

In addition students will be guaranteed access to:

    Global Scholars Award ($2500 to support an approved study abroad or exchange program during undergraduate studies if you have an overall weighted average of at least 65% at the time)
    An internship
    Targeted academic enhancement opportunities.

[Russ]

Not every postgrad program is guaranteed (some have quotas) and you're still required to do prerequisite study if relevant. Otherwise a pretty good deal