Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The National Rental Affordability Scheme must provide for the Secretary to make an allocation for an incentive period in respect of a rental dwelling:
(a) on the conditions set out in subsection ( 2); and
(b) on the condition that an incentive may be offset or recouped in the circumstances provided for by the Scheme; and
(c) on any other conditions provided for by the Scheme.
Conditions imposed by Secretary under the Scheme
(2) The conditions are that:
(a) either:
(i) the rental dwelling has not been lived in as a residence at any time before the first day of the incentive period; or
(ii) the rental dwelling was unfit for anyone to live in, and since the day on which it has been made fit for living in, it has not been lived in as a residence between that day and the first day of the incentive period; and
(b) to the extent that the rental dwelling is rented during an NRAS year that falls within the incentive period--both:
(i) the rental dwelling is rented to a tenant or tenants of a kind prescribed by the regulations; and
(ii) each charge of rent for the rental dwelling during the year is at least 20% less than the market value rent for the dwelling; and
(c) to the extent that the rental dwelling is not rented during an NRAS year that falls within the incentive period--the dwelling is not vacant for longer than a period prescribed by the regulations.
(3) To avoid doubt, for the purpose of subparagraph ( 2)(a)(i), if a dwelling or building has been converted to create additional residences, then a part of the dwelling or building that is capable of being lived in as a separate residence must not have been lived in as a separate residence before the first day of the incentive period.
(4) Regulations made for the purposes of subparagraph ( 2)(b)(i) may provide for the Secretary to make a legislative instrument prescribing matters relating to the income of a tenant or tenants.
Condition disapplied by Secretary under the Scheme
(5) The National Rental Affordability Scheme may provide that, in certain circumstances, the Secretary may decide that the condition mentioned in subparagraph ( 2)(b)(ii) does not apply if the Secretary is satisfied that the Secretary's decision will not result in an increase in rental costs for low and moderate income households.
Conditions varied or imposed directly by the Scheme
(6) Without limiting paragraph 8(a), the National Rental Affordability Scheme may:
(a) vary a condition of an allocation (other than a condition mentioned in paragraph ( 2)(a) or subparagraph ( 2)(b)(ii)) or impose a condition of an allocation; and
(b) set out the circumstances (if any) in which the condition is varied or imposed.
The condition is varied or imposed accordingly by force of this subsection.
(7) Subsection ( 6) has effect despite anything in this Act or the National Rental Affordability Scheme.