If an approved provider charges an * accommodation bond for the * entry of a care recipient to a residential care service or flexible care service, several rules must be followed. These relate particularly to prudential arrangements, * accommodation bond agreements, the amount of the bond and its payment, treatment of income derived from the bond, deductions from the bond and refunding the bond.
If an approved provider has been given or loaned an * entry contribution, several rules must be followed. Rules set out in Part 3A.3 of the Aged Care Act 1997 relate particularly to prudential arrangements and payment of interest on * entry contribution balances. Other rules are set out in section 71 of the Aged Care (Consequential Provisions) Act 1997 .
Table of Subdivisions
57 - A The basic rules
57 - C Accommodation bond agreements
57 - D Amounts of accommodation bonds
57 - E Payment of accommodation bonds
57 - F Rights of approved providers