Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a care recipient is required, under an * accommodation charge agreement, to pay an amount of * accommodation charge to an approved provider; and
(b) the care recipient does not pay the required amount before the end of one month after the day for which the charge accrues; and
(c) the agreement provides for interest to be charged on the balance outstanding at a specified rate;
the care recipient may be required to pay the approved provider interest on the balance outstanding for the period beginning at the end of the one month and continuing while the balance remains unpaid.
(2) However, the rate at which the interest is charged must not exceed the maximum specified in the Aged Care (Transitional Provisions) Principles.