31Delayed application of principal place of residence requirement: new homes

31  Delayed application of principal place of residence requirement: new homes

  Where an arrangement relates to the construction of a new home, Housing Australia must ensure that the arrangement provides that the participant does not breach the participation requirement set out in clause 1.3 of Schedule 1 by failing to treat the relevant property as the participant’s principal place of residence between the commencement of the arrangement and the date mentioned in paragraph (c) of this section, if:

 (a) the participant does not occupy the relevant property because construction of the new home is being carried out; and

 (b) the participant does not own the property that is their principal place of residence during the construction period; and

 (c) the participant begins to treat the relevant property as their principal place of residence within 3 months of the construction being completed.