Paying amount of bond assistance loan to Housing Authority
81M Paying amount of bond assistance loan to Housing Authority
In this section —
bond assistance loan means a loan from the Housing Authority to assist a tenant to pay all or some of a security bond for a residential tenancy agreement.
This section applies if —
an amount of the security bond for a residential tenancy agreement is payable to a tenant under this Division (the tenant’s security bond refund amount); and
the bond administrator is aware that the tenant has a bond assistance loan that has not been repaid in full.
If requested by the Housing Authority, the bond administrator may pay all or some of the tenant’s security bond refund amount to the Housing Authority as payment of the amount of the tenant’s bond assistance loan that has not been repaid.
The balance of the tenant’s security bond refund amount that is not paid to the Housing Authority under subsection (3) (if any), becomes the amount of the security bond payable to the tenant under this Division.
This section applies despite another provision of this Division that requires the bond administrator to pay an amount of the security bond to the tenant.
[Section 81M inserted: No. 11 of 2024 s. 43.]
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