Document ID: chunk:federal_register_of_legislation:F2024C00838:reg:63
Version: federal_register_of_legislation:F2024C00838
Segment Type: reg
Provision Reference: reg 63
Character Range: 101586–102690

63  Additional permitted uses
  For paragraph 52N‑1(2)(g) of the Act, an approved provider may use a refundable deposit or an accommodation bond for any of the following purposes:
 (a) to meet reasonable business losses that are incurred in the period:
 (i) beginning when the approved provider begins receiving residential care subsidy in relation to a residential care service or flexible care subsidy in relation to a flexible care service; and
 (ii) ending 12 months after the approved provider begins to receive the subsidy in relation to that service;
 (b) to make a loan in relation to which the following conditions are satisfied:
 (i) the loan is not made to an individual;
 (ii) the loan is made on a commercial basis;
 (iii) there is a written agreement in relation to the loan;
 (iv) it is a condition of the agreement that the money loaned will only be used as referred to in paragraph 52N‑1(2)(d) or (e) of the Act;
 (c) to invest in a fund, but not a controlling entity of a fund, listed in item 2 of the first Schedule to Banking exemption No. 1 of 2013 made under the Banking Act 1959.