User Rights Amendment (Investment of Accommodation Bonds) Principle 2013
I, MITCH FIFIELD, Assistant Minister for Social Services, make the following principle under section 96-1 of the Aged Care Act 1997.
Dated: 19 December 2013
Mitch Fifield
Assistant Minister for Social Services
Contents
1 Name of principle 1
2 Commencement 1
3 Authority 1
4 Schedule(s) 1
Schedule 1—Amendments 2
User Rights Principles 1997 2
1 Name of principle
This principle is the User Rights Amendment (Investment of Accommodation Bonds) Principle 2013.
2 Commencement
This principle commences on the day after it is registered.
3 Authority
This principle is made under the Aged Care Act 1997.
4 Schedule(s)
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1—Amendments
User Rights Principles 1997
1 Paragraph 23.38B(1)(b)
Repeal the paragraph, substitute:
(b) a fund, but not a controlling entity of a fund, listed in item 2 of the Schedule to Banking exemption No. 1 of 2013 made under the Banking Act 1959.
2 Paragraph 23.64B(1)(c)
Repeal the paragraph, substitute:
(c) the accommodation bond is invested in a fund, but not a controlling entity of a fund, listed in item 2 of the Schedule to Banking exemption No. 1 of 2013 made under the Banking Act 1959.