Commonwealth Consolidated Acts

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AGED CARE ACT 1997 - SECT 52H.3

Charging interest

             (1)  A person may be charged interest on the balance of any amount of * daily payment that:

                     (a)  is payable by the person; and

                     (b)  has been outstanding for more than 1 month.

             (2)  Subsection (1) does not apply unless the person's * accommodation agreement provides for the charging of such interest at a specified rate.

             (3)  However, the rate charged must not exceed the maximum rate determined by the Minister under subsection (4).

             (4)  The Minister may, by legislative instrument, determine the maximum rate of interest that may be charged on an outstanding amount of * daily payment.



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