Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p30
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 30/54)
Character Range: 1164952–1167607

the most recent instance of a *build to rent development of a building *commencing to be an *active build to rent development; and
 (b) on which the building has 50 or more *dwellings:
 (i) that satisfy subsection 43‑153(1); and
 (ii) that were not part of a build to rent development just before that day; and
 (iii) that the owner of the dwellings chooses to form a build to rent development in accordance with subsection (6) of this section;
those dwellings are a build to rent development, of the building, that commences to be an active build to rent development on that day unless an active build to rent development *expands under subsection (3) on that day to include the dwellings.

Expansion
 (3) If a building has a *build to rent development (the existing development) that has *commenced to be an *active build to rent development, on the first day (if any) on which the building has *dwellings (the new dwellings):
 (a) that taken together with the dwellings of the existing development for which the *build to rent compliance period has not ended, satisfy subsection 43‑153(1); and
 (b) that are not already a part of a build to rent development; and
 (c) that the owner of the dwellings chooses to form part of the existing development in accordance with subsection (6) of this section;
the existing development expands to comprise:
 (d) the dwellings of the existing development; and
 (e) the new dwellings.

Cessation
 (4) A *build to rent development ceases to be an *active build to rent development if the dwellings of the active build to rent development for which the *build to rent compliance period has not ended cease to satisfy subsection 43‑153(1).

Build to rent compliance period
 (5) The build to rent compliance period for a *dwelling of an *active build to rent development is the 15 years beginning on the day after the day on which:
 (a) unless paragraph (b) applies—the development *commences to be an active build to rent development; or
 (b) if:
 (i) the dwelling is not part of the development when it commences to be an active build to rent development; but
 (ii) the development *expands to include the dwelling;
the development expands to include the dwelling.
 (6) To make a choice for the purposes of paragraph (1)(b), subparagraph (2)(b)(iii) or paragraph (3)(c) in respect of *dwellings, the owner of the dwellings must:
 (a) make the choice in the *approved form; and
 (b) give it to the Commissioner.
 (7) The choice is taken to be made on the following day:
 (a) if:
 (i) the owner nominates a day in the choice; and
 (ii) the Commissioner receives the choice before the nominated day;
  the nominated day;