Document ID: chunk:federal_register_of_legislation:F2025C00076:reg:95
Version: federal_register_of_legislation:F2025C00076
Segment Type: reg
Provision Reference: reg 95
Character Range: 119263–119953

95  Interest on amounts owed
 (1) The maximum rate of interest that the approved provider may charge must not be more than the maximum permissible interest rate for the care recipient's entry day.
 (2) Interest may only be charged for the period that:
 (a) begins on the day after the day 1 month after the day when the amount becomes payable under the accommodation bond agreement, resident agreement or extra service agreement; and
 (b) ends on the day when the amount owed to the approved provider is paid or the residential care service ceases to provide care to the care recipient (whichever is earlier).

Subdivision C—Deduction of retention amounts in respect of accommodation bond