New South Wales Consolidated Regulations
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HOME BUILDING REGULATION 2014 - REG 62Y
Contributions or membership payments
62Y Contributions or membership payments
(1) A provider must not demand or collect an amount for fidelity fund cover,
except in accordance with this Part.
(2) The provider must file with the
Authority the amount of contributions or membership payments proposed to be
collected from members of the fidelity fund.
(3) The provider may, on and
from the proposed commencement date for the contribution or membership
payment, request payment of a contribution or membership payment that has not
been rejected by the Authority within the period allowed under this clause for
rejecting a contribution or membership payment. Except as provided by clause
62ZA, the provider must not demand the payment of any other contribution or
membership payment on and from that proposed commencement date.
(4) The
proposed commencement date for a contribution or membership payment is the
date specified in a filed contribution or membership payment as the date on
and from which the proposed contribution or membership payment will be
collected. The proposed commencement date cannot be earlier than the end of
the period allowed for rejecting a contribution or membership payment but can
be changed (with notice to the Authority) to accommodate a change in the
period allowed for rejecting a contribution or membership payment.
(5) The
period allowed for rejecting a contribution or membership payment is the
period specified in the Insurance Guidelines.
(6) A contribution or
membership payment may only be rejected as provided by this clause or clause
62ZA.
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