Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A care recipient may elect that an * accommodation bond is to be paid, in whole or in part, by periodic payments.
(2) The Aged Care (Transitional Provisions) Principles may specify:
(a) the frequency of periodic payments; and
(b) the method for working out amounts of periodic payments (including a method where only part of the * accommodation bond is to be paid by periodic payments); and
(c) any other matters relating to periodic payments.
(3) The method specified in the Aged Care (Transitional Provisions) Principles for working out amounts of periodic payments must have regard to:
(a) the income that the approved provider could be expected to have derived; and
(b) the retention amounts that would have been permitted to be deducted under section 57 - 20;
if the * accommodation bond had been paid as a lump sum.