Her Excellency the Governor, with the advice of the Executive Council, has made the following Regulation under the Landlord and Tenant (Rental Bonds) Act 1977.

REBA MEAGHER, M.P.,

Explanatory note

The object of this Regulation is to remake, with only minor changes of substance, the provisions of the Landlord and Tenant (Rental Bonds) Regulation 1993. That Regulation will be repealed on 1 September 2003 by section 10 (2) of the Subordinate Legislation Act 1989.

This Regulation contains provisions with respect to the following:

(a)  the exemption from the provisions of the Landlord and Tenant (Rental Bonds) Act 1977 (the Act) of rental bonds given in connection with short term leases of holiday houses,

(b)  the exemption of lessors from the operation of section 9 of the Act (which requires a rental bond to be in the form of money and limits the amount of money that may be demanded by way of a rental bond) in respect of the lessor’s receipt of a tenancy guarantee (as defined in this Regulation),

(c)  the exemption of leases for furnished premises the rental of which is more than $250 per week from the operation of section 9 (2) (b) of the Act (which limits the maximum bond for furnished premises to an amount equal to 6 weeks’ rent),

(d)  the period within which a lessor or lessee must notify the Rental Bond Board of the commencement of proceedings in order to prevent the Board paying out a rental bond,

(e)  the rate of interest payable, and the period over which the interest is to be compounded, on a rental bond lodged with the Rental Bond Board,

(f)  the form of receipt to be given for the payment of a rental bond,

(g)  penalty notice offences,

(h)  formal matters (such as the date of commencement of this Regulation).

This Regulation is made under the Landlord and Tenant (Rental Bonds) Act 1977, including section 34 (the general regulation-making power) and the various other sections mentioned in the Regulation.