52J‑5 Person must be left with minimum a52J‑5 Person must be left with minimum assets

52J‑5 Person must be left with minimum assets

(1) An approved provider must not accept payment of an amount of *refundable deposit from a person if: (a) the person provides sufficient information to allow the person’s *means tested amount to be worked out; and (b) the person pays, or commits to paying, the amount within 28 days after entering the service; and (c) payment of the amount would leave the value of the person’s remaining assets at less than the *minimum permissible asset value. (2) The minimum permissible asset value is: (a) the amount obtained by rounding to the nearest $500.00 (rounding $250.00 upwards) the amount equal to 2.25 times the *basic age pension amount at the time the person *enters the residential care service or flexible care service; or (b) such higher amount as is specified in, or worked out in accordance with, the Fees and Payments Principles. (3) The value of a person’s assets is to be worked out: (a) in the same way as it would be worked out under section 44‑26A for the purposes of section 44‑22; but (b) disregarding subsection 44‑26A(7).