22BDApproved participants code of conduct

22BD Approved participants code of conduct

(1) The approved participants code of conduct is set out in subsection (2). (2) The approved participant for an approved rental dwelling: (a) must comply with legal obligations relating to investors in a timely manner; and (b) must comply with the law of the Commonwealth and the States and Territories in relation to dealings with investors and tenants; and (c) must lodge an annual Statement of Compliance in relation to the dwelling; and (d) must respond to a communication from an investor within 30 days, unless the approved participant has a reasonable excuse; and (e) must have an internal or external dispute resolution mechanism for use by investors; and (f) must not enforce, seek to enforce or threaten to enforce an unfair contract; and (g) must not make a misrepresentation to an investor; and (h) must not engage in misleading or deceptive conduct in relation to an investor; and (i) must not threaten or coerce an investor to take an action the investor is not required to take under contract; and (j) must not prevent an investor from entering into a contract with a suitably qualified and experienced person in relation to the dwelling; and (k) must not threaten to take action that would result in an investor not receiving incentive to which the investor is entitled under law; and (l) must not require an investor to enter into a contract with another person in relation to the dwelling, unless the contract relates to a property management service provider and the approved participant is able to ensure that the provider: (i) complies with the contract between the provider and the investor; and (ii) complies with legal obligations relating to the investor in a timely manner; and (iii) complies with the laws of the Commonwealth and the States and Territories in relation to dealings with investors and tenants; and (iv) does not enforce, seek to enforce or threaten to enforce an unfair contract with an investor; and (v) does not make a misrepresentation to an investor; and (vi) does not engage in misleading or deceptive conduct in relation to an investor; and (vii) does not threaten or coerce an investor to take action the investor is not required to take under contract; and (m) if the approved participant requires the investor to enter into a contract as mentioned in paragraph (l)—ensures that the property management service provider acts in accordance with subparagraphs (l)(i) to (vii).