Commonwealth Consolidated Acts

AGED CARE ACT 1997 - SECT 57.17

             (1)  A care recipient may elect that an * accommodation bond is to be paid, in whole or in part, by periodic payments.

             (2)  The User Rights 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 User Rights 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.