Document ID: chunk:federal_register_of_legislation:F2024C00838:reg:69:p1
Version: federal_register_of_legislation:F2024C00838
Segment Type: reg
Provision Reference: reg 69 (pt 1/2)
Character Range: 105131–107929

69  Working out of amount of interest on refundable deposit balance or accommodation bond balance

Amount of base interest—balance refunded on or before last day of refund period
 (1) If the approved provider refunds the refundable deposit balance or accommodation bond balance on or before the last day of the refund period, the amount of base interest on the refundable deposit balance or accommodation bond balance is the amount worked out in accordance with the following formula:
where:
BIR is the base interest rate, calculated on the first day of the refund period.
ND is the number of days in the period beginning on the day after the day on which the refunding event occurred and ending on the day on which the refundable deposit balance or accommodation bond balance is refunded.
RDB is the amount of the refundable deposit balance or accommodation bond balance.
Note: Subsection (1) does not apply in the situation described in subparagraph 52P‑1(4)(b)(i) of the Act because that subparagraph does not specify a refund period.

Amount of base interest plus maximum permissible interest—balance refunded after last day of refund period
 (2) If the approved provider refunds the refundable deposit balance or accommodation bond balance after the last day of the refund period, or after the day referred to in subparagraph 52P‑1(4)(b)(i) of the Act (as applicable), the amount of interest on the refundable deposit balance or accommodation bond balance is the amount worked out in accordance with the following formula:
where:
BIR is the base interest rate, calculated on the first day of the refund period.
MPIR is the maximum permissible interest rate, worked out using the calculator in section 6, for:
 (a) if paragraph 52P‑1(4)(a), subparagraph 52P‑1(4)(b)(ii) or (iii) or paragraph 52P‑1(4)(c) of the Act applies—the day after the last day in the refund period; or
 (b) if subparagraph 52P‑1(4)(b)(i) of the Act applies—the day after the day referred to in that subparagraph.
ND(PP) is the number of days in the period:
 (a) beginning on:
 (i) if paragraph 52P‑1(4)(a), subparagraph 52P‑1(4)(b)(ii) or (iii) or paragraph 52P‑1(4)(c) of the Act applies—the day after the last day of the refund period; or
 (ii) if subparagraph 52P‑1(4)(b)(i) of the Act applies—the day after the day referred to in that subparagraph; and
 (b) ending on the day on which the refundable deposit balance or accommodation bond balance is refunded.
ND(RP) is equal to:
 (a) if paragraph 52P‑1(4)(a), subparagraph 52P‑1(4)(b)(ii) or (iii) or paragraph 52P‑1(4)(c) of the Act applies—the number of days in the period beginning on the day after the day on which the refunding event occurred and ending on the last day of the refund period; or
 (b) if subparagraph 52P‑1(4)(b)(i) of the Act applies—zero.
RDB is