Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An approved provider may retain income derived from the investment of an * accommodation bond balance in respect of an * accommodation bond paid to the approved provider.
(2) Despite section 57 - 16, if a care recipient pays an * accommodation bond to an approved provider after the due date (see subsection (6)), the care recipient may be required to pay to the approved provider an amount representing the income the approved provider could be expected to have derived, through investing the * accommodation bond balance, during the period:
(a) beginning on the due date; and
(b) ending on the day on which the * accommodation bond was paid.
(3) If the care recipient is provided with care for 2 months or less, the care recipient may be required to pay to the approved provider an amount representing the income the approved provider could be expected to have derived, through investing the * accommodation bond balance, during:
(a) the whole of the month in which the care recipient * entered the residential care service or flexible care service; and
(b) the 2 following months;
unless the Aged Care (Transitional Provisions) Principles specify that a lesser amount is payable.
Example: If a care recipient * entered a residential care service on 20 January and left on 3 March, the amount would be the amount the approved provider could have been expected to have derived if the care recipient received care for the whole of January, February and March.
(4) The Aged Care (Transitional Provisions) Principles may specify a method for working out the amounts referred to in subsections (2) and (3).
(5) The Aged Care (Transitional Provisions) Principles may provide that, in the circumstances specified in the Aged Care (Transitional Provisions) Principles, an approved provider must not retain income derived, from the investment of an * accommodation bond balance, in respect of periods specified in the Aged Care (Transitional Provisions) Principles.
(6) In this section:
"due date" means:
(a) in relation to an * accommodation bond payable by a care recipient for * entry to a residential care service--the day on which the care recipient entered the residential care service; or
(b) in relation to an accommodation bond payable by a care recipient for entry to a flexible care service--the day on which the care recipient entered the flexible care service.