Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An approved provider must not accept payment of an amount of * refundable deposit from a person if:
(a) the person provides sufficient information to allow the person's * means tested amount to be worked out; and
(b) the person pays, or commits to paying, the amount within 28 days after entering the service; and
(c) payment of the amount would leave the value of the person's remaining assets at less than the * minimum permissible asset value.
(2) The minimum permissible asset value is:
(a) the amount obtained by rounding to the nearest $500.00 (rounding $250.00 upwards) the amount equal to 2.25 times the * basic age pension amount at the time the person * enters the residential care service or flexible care service; or
(b) such higher amount as is specified in, or worked out in accordance with, the Fees and Payments Principles.
(3) The value of a person's assets is to be worked out:
(a) in the same way as it would be worked out under section 44 - 26A for the purposes of section 44 - 22; but
(b) disregarding subsection 44 - 26A(7).