sec.86Payment of rent by electronic transaction

### sec.86 Payment of rent by electronic transaction This section applies— if a tenant effects an electronic transaction to pay rent to the account of the lessor or lessor’s agent on a day; and does not take any action to defer the payment to the lessor’s or lessors agent’s account to a later day. Payment is taken to be received by the lessor or lessor’s agent on the day the tenant effects the electronic transaction. Subsection (2) applies even if, because of circumstances beyond the tenant’s control, the payment to the lessor’s or lessors agent’s account happens on a later day. The tenant uses BPay to authorise payment of rent to be debited to the tenant’s account on a Wednesday. However, the financial institution, because of its internal arrangements, does not actually debit the tenant’s account and credit the lessor’s or lessors agent’s account until the next day. The rent payment is taken to have been received by the lessor or lessor’s agent on the Wednesday. (sec.86-ssec.1) This section applies— if a tenant effects an electronic transaction to pay rent to the account of the lessor or lessor’s agent on a day; and does not take any action to defer the payment to the lessor’s or lessors agent’s account to a later day. (sec.86-ssec.2) Payment is taken to be received by the lessor or lessor’s agent on the day the tenant effects the electronic transaction. (sec.86-ssec.3) Subsection (2) applies even if, because of circumstances beyond the tenant’s control, the payment to the lessor’s or lessors agent’s account happens on a later day. The tenant uses BPay to authorise payment of rent to be debited to the tenant’s account on a Wednesday. However, the financial institution, because of its internal arrangements, does not actually debit the tenant’s account and credit the lessor’s or lessors agent’s account until the next day. The rent payment is taken to have been received by the lessor or lessor’s agent on the Wednesday. - (a) if a tenant effects an electronic transaction to pay rent to the account of the lessor or lessor’s agent on a day; and - (b) does not take any action to defer the payment to the lessor’s or lessors agent’s account to a later day.