Commonwealth Numbered Regulations

NATIONAL RENTAL AFFORDABILITY SCHEME REGULATIONS 2020 (F2020L00282)

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Name  
   2.      Commencement  
   3.      Authority  
   4.      Schedules  
   5.      Definitions  

   PART 2--ALLOCATIONS

           Division 1--No new allocations

   6.      No new allocations  

           Division 2--General conditions

   7.      General conditions  
   8.      Initial status of dwelling  
   9.      Initial vacancy  
   10.     Other vacancies  
   11.     Eligible tenants  
   12.     Maximum rent  
   13.     Documents and information  
   14.     Compliance with relevant laws  
   15.     Compliance with special conditions  
   16.     If allocation is revoked  
   17.     Conditions of the reservation of existing provisional allocations  

           Division 3--Varying, removing or imposing special conditions

   18.     Varying or removing special conditions etc. by agreement  
   19.     Secretary may vary, remove or impose special conditions  

           Division 4--Transfer or revocation not because of breach

   20.     Transfer to another rental dwelling  
   21.     Transfer to another person on application by approved participant  
   22.     Transfer of provisional allocation on Secretary's own initiative  
   23.     Revocation on application by approved participant etc.  

           Division 5--Transfer or revocation because of breach

              Subdivision A--Determinations of breaches

   24.     Individual breach  
   25.     Serious breach  
   26.     Disqualifying breach  
   27.     Approved participants code of conduct  

              Subdivision B--Procedures for making determinations of breaches

   28.     Secretary may determine breach on own initiative or on request by an investor  
   29.     Transfer requests  
   30.     Requirements for determinations of breach  
   31.     Publishing notice of certain breaches  

              Subdivision C--Transfer or revocation because of breach

   32.     Transfer or revocation because of breach  

           Division 6--General rules for transfers

   33.     Legal arrangements do not prevent transfers  
   34.     Obligations of approved participants when allocations are transferred  
   35.     Statement of compliance if allocation is transferred  

   PART 3--MARKET VALUE RENT

   36.     Meaning of market value rent  
   37.     Valuations  
   38.     Giving valuations  
   39.     Secretary may extend time for giving valuations  
   40.     Valuations--other matters  

   PART 4--ELIGIBLE TENANTS

   41.     Eligible tenants  

   PART 5--DEMONSTRATING COMPLIANCE

   42.     Statement of compliance required for each NRAS year  
   43.     Contents of statement of compliance  
   44.     Tenant consent form  
   45.     Lease agreement  
   46.     Secretary may request other documents and information  
   47.     Changes to approved participant's details  
   48.     Changes relating to investors  
   49.     Record keeping  

   PART 6----INCENTIVES

           Division 1--Entitlement to incentives

   50.     Entitlement to incentives  
   51.     Amount of incentive and reductions by Secretary  
   52.     Full amount of incentive  
   53.     Incentive amounts when approved participant changes  

           Division 2--Form and giving of incentives

   54.     Form of incentive  
   55.     Elections by endorsed charitable institutions  
   56.     Variation of incentive amount  

           Division 3--Redirecting incentives

   57.     Application of this Division  
   58.     Incentive for year of transfer  
   59.     Incentive for an earlier year  
   60.     Meaning of redirects  
   61.     Secretary must notify proposed redirection  
   62.     Secretary must take interests of investors into account  

   PART 7--OBLIGATIONS TO INVESTORS

   63.     Approved participant's obligations to investors  
   64.     Obligation to pass on incentives or State or Territory contributions in a timely manner  
   65.     Incentives or State or Territory contributions not to be withheld or refused if investor fails or refuses to accept other services  
   66.     Incentives or State or Territory contributions not to be withheld or refused if bond not paid  
   67.     Approved participant must give summary of code of conduct to investors  

   PART 8--OTHER MATTERS

   68.     Secretary may approve forms  
   69.     Sharing and use of information  
   70.     Notice of end of allocation  
   71.     Review of decisions by AAT  
   72.     When incentive cannot be redirected  

   PART 9--APPLICATION AND TRANSITIONAL PROVISIONS

   73.     Things done under the previous regulations  
   74.      General conditions of allocations existing immediately before 1 April 2020  
   75.     Determination relating to maximum rent  
   76.     Eligible tenants moving rental dwellings  
   77.     References to breaches etc.  
   78.     Redirecting incentives for certain earlier transfers  
   79.     Details of approved participants and investors