14Allocations

#### 14 Allocations (1) When an offer is accepted by an applicant in relation to a dwelling, the Secretary must: (a) make an allocation in relation to the dwelling, specifying the date from which the allocation will operate or is taken to have operated; or (b) reserve an allocation in relation to the dwelling. > Note: A reservation of an allocation may be varied under Division 2. (2) The Secretary may withdraw a reservation of an allocation in relation to a dwelling if any of the following events occur: (a) the dwelling is not available for rent by the agreed rental availability date for the dwelling; (b) the Secretary is satisfied that the dwelling will not be available for rent by the agreed rental availability date for the dwelling; (c) the applicant fails to comply with any condition of the reservation; (d) any advertisement relating to the reservation: (i) is likely to mislead; or (ii) misrepresents the Scheme; or (iii) exaggerates or overstates the tax or other financial advantages resulting from involvement in the Scheme; or (iv) presents the government as underwriting or endorsing the applicant, the dwelling or a proposed investment; or (v) presents the government as dealing directly with investors; or (vi) presents the government as being in partnership with any applicant, person or entity publishing details in association with the Scheme; (e) the application for the allocation: (i) includes information that is false or misleading; or (ii) fails to include information that the applicant knew, or ought reasonably to have known, was relevant; (f) an application made under Division 2 in relation to the reservation of the allocation: (i) includes information that is false or misleading; or (ii) fails to include information that the applicant knew, or ought reasonably to have known, was relevant. > Note: Sections 137.1 and 137.2 of the Criminal Code create offences for providing false or misleading information or documents. (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. (3) On making an allocation, or deciding to withdraw a reservation of an allocation, the Secretary must notify the applicant.