Document ID: chunk:federal_register_of_legislation:C2025C00143:section:2:p3
Version: federal_register_of_legislation:C2025C00143
Segment Type: section
Provision Reference: s 2 (pt 3/9)
Character Range: 140671–143471

the same day—the day after that day; or
 (b) if they received the notice on different days—the day after the later of those days.

Subdivision 57‑E—Payment of accommodation bonds

57‑16  Period for payment of accommodation bond
  A care recipient must not be required to pay an *accommodation bond:
 (a) before the end of such period as is specified in the Aged Care (Transitional Provisions) Principles; or
 (b) if no period is specified—before the end of 6 months;
after *entry to the residential care service or flexible care service.
Note: However, under sections 57‑18 and 57‑20, amounts representing income derived and retention amounts are payable from the date a care recipient *enters a residential care service or a flexible care service.

57‑17  Payment of an accommodation bond by periodic payments
 (1) A care recipient may elect that an *accommodation bond is to be paid, in whole or in part, by periodic payments.
 (2) The Aged Care (Transitional Provisions) Principles may specify:
 (a) the frequency of periodic payments; and
 (b) the method for working out amounts of periodic payments (including a method where only part of the *accommodation bond is to be paid by periodic payments); and
 (c) any other matters relating to periodic payments.
 (3) The method specified in the Aged Care (Transitional Provisions) Principles for working out amounts of periodic payments must have regard to:
 (a) the income that the approved provider could be expected to have derived; and
 (b) the retention amounts that would have been permitted to be deducted under section 57‑20;
if the *accommodation bond had been paid as a lump sum.

Subdivision 57‑F—Rights of approved providers

57‑18  Approved provider may retain income derived
 (1) An approved provider may retain income derived from the investment of an *accommodation bond balance in respect of an *accommodation bond paid to the approved provider.
 (2) Despite section 57‑16, if a care recipient pays an *accommodation bond to an approved provider after the due date (see subsection (6)), the care recipient may be required to pay to the approved provider an amount representing the income the approved provider could be expected to have derived, through investing the *accommodation bond balance, during the period:
 (a) beginning on the due date; and
 (b) ending on the day on which the *accommodation bond was paid.
 (3) If the care recipient is provided with care for 2 months or less, the care recipient may be required to pay to the approved provider an amount representing the income the approved provider could be expected to have derived, through investing the *accommodation bond balance, during:
 (a) the whole of the month in which the care recipient *entered the residential care service or flexible care service; and
 (b)