sec.62VPark owner must reduce site rent in particular circumstances

### sec.62V Park owner must reduce site rent in particular circumstances This section applies if, within 6 months after the start of the buyback period for the eligible home, the eligible home has not been sold— to the park owner under a buyback agreement; or to another person. The park owner must, unless the park owner has a reasonable excuse, reduce by 25% the site rent payable under the site agreement for the site on which the eligible home is positioned. Maximum penalty—540 penalty units. See section 62ZA in relation to the orders the tribunal may make if the park owner refuses or fails to comply with this section, whether or not the park owner is convicted of an offence against subsection (2) . s 62V ins 2024 No. 28 s 12 (sec.62V-ssec.1) This section applies if, within 6 months after the start of the buyback period for the eligible home, the eligible home has not been sold— to the park owner under a buyback agreement; or to another person. (sec.62V-ssec.2) The park owner must, unless the park owner has a reasonable excuse, reduce by 25% the site rent payable under the site agreement for the site on which the eligible home is positioned. Maximum penalty—540 penalty units. - (a) to the park owner under a buyback agreement; or - (b) to another person.