User Rights Amendment (Investment of Accommodation Bonds) Principle 2013

Link to law: https://www.comlaw.gov.au/Details/F2013L02186

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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                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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.