39Secretary may extend time for giving valuations

39 Secretary may extend time for giving valuations

(1) The Secretary may, on the application of the approved participant, agree to a valuation being given to the Secretary after the time specified in subsection 38(1) if: (a) the Secretary is satisfied that the approved participant has a reasonable excuse for not being able to give the valuation to the Secretary before that time; or (b) both of the following apply: (i) the allocation concerned has been transferred to another dwelling or to a gaining approved participant; (ii) the Secretary is satisfied that, because of the transfer, it is reasonable to extend the period for giving the valuation. (2) The application must be in the approved form. (3) If the Secretary agrees to the valuation being given to the Secretary after the time specified in subsection 38(1), the Secretary may, by writing given to the approved participant, determine that subsection 13(2) (outstanding documents or information) does not apply in relation to the valuation for the period specified in the determination. (4) However, the Secretary must not make a determination under subsection 12(2) in relation to a particular charge of rent for the dwelling if the charge was more than 20% of the market value rent for the dwelling because a valuation was not available by a particular time.