39
CurrentMaximum level of bond
Part 7Bonds and guarantees
39 Maximum level of bond
(1)
The lessor must not require or accept as a bond an amount more than rent payable under the lease for any 3 month period nominated by the lessor.
(2)
If the lessor requires payment of more than 3 months rent in advance, any advance payment over 3 months rent is taken, for this section, to be bond.
This Act’s bill:Explanatory statementSecond reading speech
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