37Repeal of this Part

37 Repeal of this Part

This Part is repealed on the day after the end of the period of 12 months beginning on the day after this regulation is registered.

Part 2—Amendments commencing 3 months after day after registration

National Rental Affordability Scheme Regulations 2008

27 Regulation 4

Insert:

provisional allocation has the meaning given by subregulation 14(2C).

28 Subregulation 13(3)

After “allocation”, insert “(other than a provisional allocation)”.

29 Paragraph 14(1)(b)

Repeal the paragraph, substitute:

(b) reserve an allocation in relation to the dwelling.

Note: A reservation of an allocation may be varied under Division 2.

30 After subregulation 14(2)

Insert:

(2A) If the Secretary reserves an allocation in relation to a dwelling under paragraph (1)(b), the Secretary must make the allocation on the earlier of: (a) the date when the conditions of the reservation of the allocation are satisfied; and (b) the agreed rental availability date for the dwelling.

Note: The agreed rental availability date for a dwelling in relation to which a reservation of an allocation applies cannot be after 30 June 2016 (see regulation 23C).

(2B) An allocation made under subregulation (2A) operates on the day the allocation is made. (2C) An allocation that is made on the agreed rental availability date for a dwelling under paragraph (2A)(b), and in relation to which the conditions of the reservation of the allocation have not been satisfied, is a provisional allocation.

31 Before subregulation 16(12)

Insert:

(11A) If the allocation is a provisional allocation, the conditions of the reservation of the allocation (other than the condition relating to the agreed rental availability date) must be satisfied.

32 Regulation 20

Before “If”, insert “(1)”.

33 At the end of regulation 20

Add:

(2) However, the Secretary must not transfer a provisional allocation to a different rental dwelling.

34 Regulation 21

Before “If”, insert “(1)”.

35 At the end of regulation 21

Add:

(2) However, the Secretary must not transfer a provisional allocation to another approved participant or another person or entity.

36 Regulation 22 (heading)

Repeal the heading, substitute: