170Accommodation bonds

170 Accommodation bonds

(1) This section applies to an individual in the pre‑2014 accommodation class if, immediately before the transition time, an accommodation bond agreement (within the meaning of the old Transitional Provisions Act) was in effect for the individual with an approved provider that is, because of subitem 5(1) of Schedule 2 to the CTP Act, taken to be a registered provider at the transition time. (2) For the purposes of applying section 287 of the new Act and Part 2 of Chapter 9 of the new rules to the individual: (a) the accommodation bond agreement continues in effect (and may be dealt with) on and after that time as if it were an accommodation bond agreement entered into with the registered provider under Division 2 of that Part; and (b) residential care (within the meaning of the old Act) that was provided to the individual by the approved provider through a residential care service (within the meaning of the old Act) in accordance with the agreement before the transition time is taken on and after that time to have been the delivery of ongoing funded aged care services to the individual in the approved residential care home of the registered provider that the System Governor, in accordance with subitem 5(7) of Schedule 2 to the CTP Act, deems the service to be or be part of; and (c) the individual’s day of entry (within the meaning of the old Act) for the residential care service is taken to be the individual’s start day for the approved residential care home; and (d) an election made by the individual under section 57‑17 of the old Transitional Provisions Act is taken to have been made in accordance with section 287‑70 of the new rules; and (e) an amount of interest that, before the transition time, was paid or payable to the approved provider in accordance with section 74 of the old Transitional Provisions Principles is taken to have been paid, or to be payable, to the registered provider in accordance with section 287‑80 of the new rules; and (f) income retained by the approved provider in accordance with subsection 57‑18(1) of the old Transitional Provisions Act before the transition time is taken to have been retained, or to be permitted to be retained, in accordance with subsection 287‑85(1) of the new rules; and (g) an amount that, before the transition time, was paid or payable to the approved provider in accordance with subsection 57‑18(2) or (3) of the old Transitional Provisions Act or section 91 or 92 of the old Transitional Provisions Principles is taken to have been paid, or to be payable, to the registered provider in accordance with subsections 287‑85(2) to (6) of the new rules; and (h) an amount: (i) deducted before the transition time from the accommodation bond balance for the individual’s accommodation bond in accordance with section 57‑19 of the old Transitional Provisions Act or section 95 of the old Transitional Provisions Principles; or (ii) permitted to be deducted from that balance before that time in accordance with that section but that had not yet been deducted as at that time; is taken to have been deducted, or to be permitted to be deducted, from the accommodation bond balance for the individual’s accommodation bond in accordance with section 287‑90 of the new rules; and (i) an amount deducted before the transition time from the accommodation bond balance for the individual’s accommodation bond in accordance with section 57‑20 of the old Transitional Provisions Act or section 97 or 98 of the old Transitional Provisions Principles is taken to have been deducted, or to be permitted to be deducted, from the accommodation bond balance for the individual’s accommodation bond in accordance with sections 287‑95 and 287‑100 of the new rules; and (j) an accommodation bond (within the meaning of the old Act) used by the approved provider in accordance with section 52N‑1 of the old Act or section 62, 63 or 64 of the Fees and Payments Principles before the transition time is taken to have been used, or to be permitted to be used, by the registered provider in accordance with section 287‑101 of the new rules. (3) Subsection (2) is not intended to change the time at which any thing referred to in that subsection was done or happened.