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Contents (2010 - 42)
Residential Tenancies Act 2010 No 42
Current version for 7 July 2017 to date (accessed 13 December 2017 at 16:19)
Part 8 Division 6
Division 6 Financial matters
185   Rental Bond Account
(1)  There is to be established a Rental Bond Account into which is to be paid:
(a)  all rental bonds paid to the Secretary, and
(b)  any other money payable to the Account under this or any other Act.
(2)  There is to be paid from the Rental Bond Account:
(a)  the amount of any rental bonds payable under this Act, and
(b)  money for the purpose of investment of the Account, and
(c)  any other money that is payable from the Account under this or any other Act.
186   Rental Bond Interest Account
(1)  There is to be established a Rental Bond Interest Account into which is to be paid:
(a)  all income from any investment of the Rental Bond Account, and
(b)  the income from any investment of the Rental Bond Interest Account, and
(c)  any other money payable to the Rental Bond Interest Account under this or any other Act.
(2)  There is to be paid from the Rental Bond Interest Account:
(a)  money for the purpose of investment of the Rental Bond Interest Account, and
(b)  the costs of, or expenses incurred in, administering this Act, and
(c)  half the costs of, or expenses incurred in, administering residential and social housing matters in the Consumer and Commercial Division of the Tribunal, and
(d)  grants or loans for the purposes set out in subsection (3), and
(e)  any other money that is payable from the Rental Bond Interest Account or the Rental Bond Account under this or any other Act.
Note.
 Amounts may be paid out of the Rental Bond Interest Account for the purposes of expenditure under Division 5 of this Part (related to the provision of residential accommodation).
(3)  The Secretary may make a grant or loan, on the recommendation of the Board and with the approval of the Minister, from the Rental Bond Interest Account for the following purposes:
(a)  establishing and administering tenancy advisory services,
(b)  schemes for the provision of residential accommodation,
(c)  education about tenancy laws and the rights and obligations of landlords and tenants,
(d)  research into matters relevant to the relationship of landlord and tenant,
(e)  other activities for the benefit of landlords and tenants.
(4)  In this section:
residential and social housing matters in the Consumer and Commercial Division of the Tribunal means matters relating to the exercise of the functions of the Tribunal in that Division under the Residential Parks Act 1998, Residential Tenancies Act 2010 or Retirement Villages Act 1999.