22Revocation of allocation other than provisional allocation

#### 22 Revocation of allocation other than provisional allocation (1) The Secretary may revoke an allocation (other than a provisional allocation) made to an approved participant in relation to an approved rental dwelling if: (a) any conditions of the allocation are not complied with; or (aa) the approved participant fails to comply with the approved participant’s obligations under Division 2 of Part 4; or (ab) the approved participant provides false or misleading information about the Scheme to an investor for the approved rental dwelling; or (ac) the approved participant fails to provide information to an investor that the approved participant knows, or ought reasonably to know, is relevant; or (ad) the approved participant fails to comply with a consumer protection law in relation to the allocation; or (ae) if the approved participant receives a tax offset certificate in respect of the approved rental dwelling—the approved participant claims a tax offset (or a part of a tax offset) in relation to the certificate to which the approved participant is not entitled; or (af) if the approved participant is a company—either: (i) ASIC has published notice of the proposed deregistration of the company under paragraph 601AA(4)(d) or 601AB(3)(b) of the Corporations Act 2001; or (ii) a court has ordered the deregistration of the company by ASIC under paragraph 413(1)(d) or 481(5)(b) or subsection 509(2) of that Act; or (ag) the approved participant: (i) becomes bankrupt; or (ii) takes steps to take the benefit of any law for the relief of bankrupt or insolvent debtors; or (iii) compounds with one or more of his or her creditors; or (iv) makes an assignment of his or her remuneration for the benefit of one or more of his or her creditors; or (b) 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. > Note: Sections 137.1 and 137.2 of the Criminal Code create offences for providing false or misleading information or documents. (2) If an allocation is revoked under subregulation (1), no incentive is payable for the NRAS year in which the revocation occurred, or in any subsequent NRAS year.