Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsThe Secretary may, in writing, determine that the approved participant for a rental dwelling covered by an allocation has committed a serious breach if the Secretary is satisfied that:
(a) the approved participant has breached the approved participants code of conduct in relation to 3 or more investors within a period of 6 months, resulting in material financial detriment to those investors; or
(b) has committed a compliance breach that involves one or more of the following:
(i) providing false or misleading information to the Secretary or the Department in relation to the Scheme;
(ii) failing to comply with the law of the Commonwealth or a State or Territory in relation to the dwelling or any other aspect of the Scheme;
(iii) claiming a tax offset that the approved participant is not entitled to claim;
(iv) passing on a tax offset to a person who is not entitled to claim the tax offset; or
(c) all of the following apply:
(i) the approved participant has breached the approved participants code of conduct or committed a compliance breach;
(ii) the Secretary has, in writing, required the approved participant to take remedial action in relation to the breach;
(iii) the remedial action is not taken within 28 days after the requirement is given to the approved participant; or
(d) all of the following apply:
(i) the approved participant has breached the approved participants code of conduct or committed a compliance breach;
(ii) the Secretary has given the approved participant a written warning in relation to the breach;
(iii) within 12 months after being given the warning, the approved participant commits a similar breach (whether in relation to the same or another allocation).
Note: A decision under this section is reviewable by the Administrative Review Tribunal (see section 71).