Commonwealth Consolidated Acts

AGED CARE ACT 1997 - SECT 52N.3

  (1)   If:

  (a)   an approved provider has used a * refundable deposit or * accommodation bond to make a loan to a person (the borrower ); and

  (b)   the Secretary or * Quality and Safety Commissioner believes on reasonable grounds that the borrower has information or documents relating to that use;

the Secretary or Commissioner may request the borrower to give the Secretary or Commissioner such information or documents as are specified in the request that are in the possession, custody or control of the borrower.

  (2)   Without limiting subsection   (1), the following kinds of information or documents may be specified in the request:

  (a)   a copy of the agreement relating to the loan that has been executed, or entered into, by the parties to the agreement;

  (b)   the amount of the loan;

  (c)   details of any security in respect of the loan;

  (d)   details of the term or life of the loan;

  (e)   details of the rate of interest payable on the loan;

  (f)   evidence that the rate of interest payable on the loan has been set on a commercial basis;

  (g)   details of the loan repayments (including the amounts and frequency of those repayments);

  (h)   details of any review of the loan that must or may be conducted;

  (i)   details of any other conditions or terms of the loan;

  (j)   details of the commercial basis of the loan;

  (k)   evidence of the use of the money loaned;

  (l)   a copy of the financial statements (however described) of the borrower (including such statements that have been audited);

  (m)   any other information or documents relating to the loan.

  (3)   The Secretary or * Quality and Safety Commissioner may request the borrower to give the specified information or documents on a periodic basis.

Request to be made in writing etc.

  (4)   The request must:

  (a)   be made in writing; and

  (b)   set out the effect of subsections   (5) and (6).

Period etc. for complying with request

  (5)   The borrower must comply with the request:

  (a)   within 28 days after the request is made or within such shorter period as is specified in the request; or

  (b)   if the information or documents are to be given on a periodic basis--before the time or times worked out in accordance with the request.

Offence

  (6)   A person commits an offence of strict liability if:

  (a)   an approved provider that is a * corporation has used a * refundable deposit or * accommodation bond to make a loan to the person; and

  (b)   the Secretary or * Quality and Safety Commissioner requests the person to give information or documents under subsection   (1) relating to that use; and

  (c)   the person fails to comply with the request within the period, or before the time, required under subsection   (5).

Penalty:   30 penalty units.

Compensation

  (7)   If the operation of this section would result in an acquisition of property from a person otherwise than on just terms, the Commonwealth is liable to pay a reasonable amount of compensation to the person.

  (8)   If the Commonwealth and the person do not agree on the amount of the compensation, the person may institute proceedings in the Federal Court of Australia, or the Supreme Court of a State or Territory, for the recovery from the Commonwealth of such reasonable amount of compensation as the court determines.