sec.197Changes to way site rent to be paid

### sec.197 Changes to way site rent to be paid This section applies in relation to a site agreement that was in force immediately before the commencement if, on the commencement, the site agreement does not provide— at least 3 approved ways for the home owner to pay site rent under the site agreement; or at least 1 way for the home owner to pay site rent under the site agreement that does not incur an additional cost to the home owner. The park owner must, within 12 months after the commencement, give the home owner a notice that— nominates at least 3 approved ways (each a nominated way ) for the payment of site rent under the site agreement, at least 1 of which is a way that does not incur an additional cost to the home owner; and states that the home owner may choose to change the existing way the site rent is paid under the site agreement to a nominated way by giving notice to the park owner. Maximum penalty—100 penalty units. The home owner may— by notice given to the park owner, change the existing way the site rent is paid under the site agreement to 1 of the nominated ways; or continue to pay the site rent in the existing way. For sections 63A and 63B— a nominated way under this section is taken to be a way nominated in the site agreement for the payment of site rent under the site agreement; and if the home owner continues to pay the site rent in the existing way—the existing way of paying the site rent is also taken to be a nominated way under the site agreement. In this section— additional cost , to a home owner, see section 63A(3). s 197 ins 2024 No. 28 s 28 (sec.197-ssec.1) This section applies in relation to a site agreement that was in force immediately before the commencement if, on the commencement, the site agreement does not provide— at least 3 approved ways for the home owner to pay site rent under the site agreement; or at least 1 way for the home owner to pay site rent under the site agreement that does not incur an additional cost to the home owner. (sec.197-ssec.2) The park owner must, within 12 months after the commencement, give the home owner a notice that— nominates at least 3 approved ways (each a nominated way ) for the payment of site rent under the site agreement, at least 1 of which is a way that does not incur an additional cost to the home owner; and states that the home owner may choose to change the existing way the site rent is paid under the site agreement to a nominated way by giving notice to the park owner. Maximum penalty—100 penalty units. (sec.197-ssec.3) The home owner may— by notice given to the park owner, change the existing way the site rent is paid under the site agreement to 1 of the nominated ways; or continue to pay the site rent in the existing way. (sec.197-ssec.4) For sections 63A and 63B— a nominated way under this section is taken to be a way nominated in the site agreement for the payment of site rent under the site agreement; and if the home owner continues to pay the site rent in the existing way—the existing way of paying the site rent is also taken to be a nominated way under the site agreement. (sec.197-ssec.5) In this section— additional cost , to a home owner, see section 63A(3). - (a) at least 3 approved ways for the home owner to pay site rent under the site agreement; or - (b) at least 1 way for the home owner to pay site rent under the site agreement that does not incur an additional cost to the home owner. - (a) nominates at least 3 approved ways (each a nominated way ) for the payment of site rent under the site agreement, at least 1 of which is a way that does not incur an additional cost to the home owner; and - (b) states that the home owner may choose to change the existing way the site rent is paid under the site agreement to a nominated way by giving notice to the park owner. - (a) by notice given to the park owner, change the existing way the site rent is paid under the site agreement to 1 of the nominated ways; or - (b) continue to pay the site rent in the existing way. - (a) a nominated way under this section is taken to be a way nominated in the site agreement for the payment of site rent under the site agreement; and - (b) if the home owner continues to pay the site rent in the existing way—the existing way of paying the site rent is also taken to be a nominated way under the site agreement.