Commonwealth Numbered Regulations Commonwealth Numbered RegulationsNational Rental Affordability Scheme Regulations 2008
1 Subregulations 16(4) to (6)
Repeal the subregulations, substitute:
(4) The approved participant for an approved rental dwelling must obtain market rent valuations of the dwelling in accordance with regulation 18 and subregulations (5) and (5A) of this regulation:
(a) when the dwelling is first available for rent under the National Rental Affordability Scheme; and
(b) at the end of the fourth and seventh years of the incentive period in respect of the dwelling.
(5) A market rent valuation of an approved rental dwelling obtained under paragraph (4)(a) or (b) must:
(a) relate to the market value rent for the dwelling on a date within the permitted valuation period for the market rent valuation; and
(b) specify the date to which the market value rent relates.
(5A) For subregulation (5):
(a) the permitted valuation period for a market rent valuation of an approved rental dwelling to be obtained under paragraph (4)(a) is the 26 week period:
(i) beginning 13 weeks before the day when the dwelling is first available for rent under the National Rental Affordability Scheme; and
(ii) ending at the end of 13 weeks after that day; and
(b) the permitted valuation period for a market rent valuation of an approved rental dwelling to be obtained under paragraph (4)(b) is the 26 week period:
(i) beginning 13 weeks before the last day of the fourth or seventh year (as the case may be) of the incentive period in respect of the dwelling; and
(ii) ending at the end of 13 weeks after that day.
(6) The approved participant for an approved rental dwelling:
(a) must lodge with the Department the market rent valuation of the dwelling obtained under paragraph (4)(a):
(i) within 13 weeks of the day when the dwelling is first available for rent under the National Rental Affordability Scheme; or
(ii) if the Secretary approves an extended period under subregulation (6A)--within the extended period; and
(b) must lodge with the Department the market rent valuations of the dwelling obtained under paragraph (4)(b):
(i) within 13 weeks of the last day of the fourth or seventh year (as the case may be) of the incentive period in respect of the dwelling; or
(ii) if the Secretary approves an extended period under subregulation (6A)--within the extended period.
(6A) Subject to subregulation (6B), the Secretary may, on application in writing by the approved participant for an approved rental dwelling, approve an extended period within which a market rent valuation of the dwelling must be lodged under subregulation (6).
(6B) The Secretary must not approve an extended period for lodging a market rent valuation unless the Secretary is satisfied that the applicant for the approval has a reasonable excuse for not being able to lodge the valuation within the period mentioned in subparagraph (6)(a)(i) or (b)(i) (as the case requires).
(6C) If the Secretary approves an extended period under subregulation (6A), the Secretary must notify the applicant for the approval, in writing, of the extended period.
2 Subregulation 16(9)
Repeal the subregulation.
3 Subregulation 16(10)
Omit "subregulations (7) and (9)", substitute "subregulation (7)".
4 Subregulation 16(11)
Repeal the subregulation.
5 Subregulation 16(12)
Omit "evidence", substitute "information and documents".
6 Subregulation 17(1)
After "lodge", insert "with the Department".
7 Subregulation 17(2)
Repeal the subregulation, substitute:
(2) The Statement of Compliance must be lodged:
(a) by 30 June after the end of the NRAS year for which the approved participant wishes to receive an incentive; or
(b) if the Secretary approves a later date under subregulation (2A) or (2B)--by the later date.
(2A) Subject to subregulation (2C), the Secretary may, on the Secretary's own initiative and if the Secretary considers it appropriate, approve a later date by which Statements of Compliance for approved rental dwellings in relation to a particular NRAS year must be lodged.
(2B) Subject to subregulations (2C) and (2D), the Secretary may, on application in writing by the approved participant for an approved rental dwelling, approve a later date by which a Statement of Compliance for the dwelling in relation to an NRAS year must be lodged.
(2C) The Secretary must not, under subregulation (2A) or (2B), approve a date by which a Statement of Compliance for an approved rental dwelling in relation to an NRAS year must be lodged that is later than 30 September after the end of the NRAS year.
(2D) The Secretary must not, under subregulation (2B), approve a later date by which a Statement of Compliance for an approved rental dwelling in relation to an NRAS year must be lodged unless the Secretary is satisfied that the applicant has a reasonable excuse for not being able to lodge, or for not lodging, the Statement by 30 June after the end of the NRAS year.
(2E) If the Secretary approves a later date under subregulation (2A), the Secretary must notify, in writing, all approved participants for approved rental dwellings of the later date.
(2F) If the Secretary approves a later date under subregulation (2B), the Secretary must notify the applicant for the approval, in writing, of the later date.
8 Paragraph 17(3)(c)
Omit "for the dwelling", substitute "of the dwelling for the year".
9 Before subregulation 18(1)
Insert:
(1A) In these Regulations, the market value rent for an approved rental dwelling for a year of an incentive period in respect of the dwelling is:
(a) for the period of 12 months beginning when the dwelling is first available for rent under the National Rental Affordability Scheme--the market value rent for the dwelling, assessed under subregulation (1) for the purpose of obtaining a market rent valuation of the dwelling under paragraph 16(4)(a); and
(b) for the fifth year of the incentive period in respect of the dwelling--the market value rent for the dwelling at the end of the fourth year of the incentive period, assessed under subregulation (1) for the purpose of obtaining a market rent valuation of the dwelling under paragraph 16(4)(b); and
(c) for the eighth year of the incentive period in respect of the dwelling--the market value rent for the dwelling at the end of the seventh year of the incentive period, assessed under subregulation (1) for the purpose of obtaining a market rent valuation of the dwelling under paragraph 16(4)(b); and
(d) for any other year (the relevant year ) of the incentive period in respect of the dwelling--the market value rent for the dwelling for the year immediately preceding the relevant year, indexed on the first day of the relevant year in accordance with the NRAS market index, and rounded to the next whole dollar.
10 Subregulation 18(1)
Omit all the words before paragraph (a), substitute:
(1) In these Regulations, the market value rent for an approved rental dwelling, for the purpose of obtaining a market rent valuation of the dwelling under paragraph 16(4)(a) or (b), is the amount assessed as the market value rent for the dwelling in a written valuation prepared by a valuer who:
11 Regulation 25
Omit "in an NRAS year", substitute "for an NRAS year".
12 After subregulation 28(2)
Insert:
(2A) However, paragraph (2)(d) does not apply in relation to an incentive for an approved rental dwelling for an NRAS year if the condition mentioned in subregulation 16(1D) is not satisfied in relation to the dwelling for that year.
13 Regulation 28AA
Omit "in an NRAS year", substitute "for an NRAS year".
Part 2 -- Consequential amendments
14 Item 31 of Schedule 1
Repeal the item, substitute:
31 Before subregulation 16(12)
Insert:
(11A) If the allocation is a provisional allocation, the conditions of the reservation of the allocation (other than the condition relating to the agreed rental availability date) must be satisfied.
Part 3 -- Transitional provisions
National Rental Affordability Scheme Regulations 2008
15 Before regulation 34
Insert:
16 Regulation 37 (heading)
Repeal the heading, substitute:
17 Regulation 37
Omit "Part", substitute "Division".
18 Regulation 37
Omit "after this regulation is registered", substitute "this regulation commenced".
19 At the end of Part 6
Add:
In this Division:
2013-14 NRAS year means the NRAS year beginning on 1 May 2013.
"commencement day" means the day on which the National Rental Affordability Scheme Amendment (Administrative Processes) Regulation 2014 commences.
"old Regulations" means the National Rental Affordability Scheme Regulations 2008 , as in force before the commencement of Part 1 of Schedule 1 to the National Rental Affordability Scheme Amendment (Provisional Allocations and Other Measures) Regulation 2014 .
"permitted valuation period" means:
(a) for a market rent valuation of an approved rental dwelling obtained, or to be obtained, under paragraph 16(4)(a) of the old Regulations--the 26 week period:
(i) beginning 13 weeks before the day when the dwelling was first available for rent under the National Rental Affordability Scheme; and
(ii) ending at the end of 13 weeks after that day; and
(b) for a market rent valuation of an approved rental dwelling obtained, or to be obtained, under paragraph 16(4)(b) of the old Regulations--the 26 week period:
(i) beginning 13 weeks before the last day of the fourth or seventh year (as the case may be) of the incentive period in respect of the dwelling; and
(ii) ending at the end of 13 weeks after that day.
38A Entitlement to receive incentive for 2013-14 NRAS year--references to market value rent etc.
For the purpose of determining an approved participant's entitlement to receive an incentive for an approved rental dwelling for the 2013-14 NRAS year:
(a) a reference in this Division and in the old Regulations to the market value rent for the dwelling for a year is taken to be a reference to the market value rent for the dwelling for the year within the meaning of regulation 18 of these Regulations, as in force on or after the commencement day; and
(b) subregulation 16(9) of the old Regulations is taken not to have applied in relation to the dwelling for the 2013-14 NRAS year; and
(c) subregulation 16(10) of the old Regulations is taken not to have included a reference to subregulation 16(9) of those Regulations.
(1) Subregulation (3) applies in relation to an approved participant's entitlement to receive an incentive for an approved rental dwelling for the 2013-14 NRAS year if:
(a) before the end of the period mentioned in subregulation 16(6) of the old Regulations, the approved participant had lodged with the Department a market rent valuation of the dwelling obtained under paragraph 16(4)(a) or (b) of the old Regulations; and
(b) the market rent valuation related to the market value rent for the dwelling on a date (the actual valuation date ) other than the date mentioned in paragraph 16(5)(a) or (b) of the old Regulations (as the case required); and
(c) the actual valuation date was within the permitted valuation period for the market rent valuation.
(2) Subregulation (3) also applies in relation to an approved participant's entitlement to receive an incentive for an approved rental dwelling for the 2013-14 NRAS year if:
(a) after the end of the period mentioned in subregulation 16(6) of the old Regulations and before the commencement day, the approved participant had lodged with the Department a market rent valuation of the dwelling obtained under paragraph 16(4)(a) or (b) of the old Regulations; and
(b) the market rent valuation related to the market value rent for the dwelling on a date within the permitted valuation period for the market rent valuation.
(3) The conditions of allocation mentioned in subregulations 16(4), (5) and (6) of the old Regulations are taken to have been satisfied in relation to the approved rental dwelling for the 2013-14 NRAS year.
(1) Subregulation (3) applies in relation to an approved participant's entitlement to receive an incentive for an approved rental dwelling for the 2013-14 NRAS year if, before the commencement day:
(a) the approved participant was required by subregulation 16(6) of the old Regulations to lodge with the Department a market rent valuation of the dwelling obtained under paragraph 16(4)(a) or (b) of the old Regulations; and
(b) the approved participant had not done so.
(2) Subregulation (3) also applies in relation to an approved participant's entitlement to receive an incentive for an approved rental dwelling for the 2013-14 NRAS year if:
(a) before the commencement day, the approved participant had lodged with the Department a market rent valuation of the dwelling obtained under paragraph 16(4)(a) or (b) of the old Regulations (whether or not the lodgement was within the period mentioned in subregulation 16(6) of the old Regulations); and
(b) the market rent valuation did not relate to the market value rent for the dwelling on a date within the permitted valuation period for the market rent valuation.
(3) The conditions of allocation mentioned in subregulations 16(4), (5) and (6) of the old Regulations are taken to be satisfied in relation to the approved rental dwelling for the 2013-14 NRAS year if:
(a) the approved participant for the dwelling obtains the market rent valuation of the dwelling required by paragraph 16(4)(a) or (b) of the old Regulations (as the case requires); and
(b) the market rent valuation relates to the market value rent for the dwelling on a date within the permitted valuation period for the market rent valuation; and
(c) the approved participant lodges with the Department the market rent valuation before 30 April 2015.
(1) Subregulation (2) applies in relation to an approved participant's entitlement to receive an incentive for an approved rental dwelling for the 2013-14 NRAS year if:
(a) after 13 May 2014 and before the commencement day, the approved participant had lodged a Statement of Compliance for the dwelling in relation to the 2013-14 NRAS year for the purpose of regulation 17 of the old Regulations; and
(b) the Statement included all the statements and details mentioned in subregulation 17(3) of the old Regulations.
(2) The condition of allocation mentioned in subregulation 16(1) of the old Regulations is taken to have been satisfied in relation to the approved rental dwelling for the 2013-14 NRAS year.
(1) Subregulation (2) applies in relation to an approved participant's entitlement to receive an incentive for an approved rental dwelling for the 2013-14 NRAS year if:
(a) the approved participant had not, before the commencement day, lodged a Statement of Compliance for the dwelling in relation to the 2013-14 NRAS year for the purpose of regulation 17 of the old Regulations; or
(b) the approved participant had, before the commencement day (whether or not before 13 May 2014), lodged a Statement of Compliance for the dwelling in relation to the 2013-14 NRAS year, but the Statement did not include all the statements and details mentioned in subregulation 17(3) of the old Regulations.
(2) The condition of allocation mentioned in subregulation 16(1) of the old Regulations is taken to be satisfied in relation to the approved rental dwelling for the 2013-14 NRAS year if:
(a) the approved participant for the dwelling lodges with the Department a Statement of Compliance for the dwelling in relation to that year before 30 April 2015; and
(b) the Statement includes all the statements and details mentioned in subregulation 17(3) of the old Regulations.
The amendments made by Part 1 of Schedule 1 to the National Rental Affordability Scheme Amendment (Administrative Processes) Regulation 2014 apply in relation to an approved participant's entitlement to receive an incentive for an approved rental dwelling for the NRAS year beginning on 1 May 2014 or a later NRAS year.
This Division is repealed on the day after the end of the period of 12 months beginning on the day after this regulation commences.