Residential Tenancies Regulations 1989

This regulation applies if an amount of a security bond for a residential tenancy agreement is unclaimed as referred to in section 81T(1) of the Act.

The bond administrator must give notice in writing to the lessor and the tenant in whose names the security bond is held —

informing them that the bond administrator has reason to believe that 6 months have elapsed since the termination of the residential tenancy agreement and that the security bond for the agreement, or part of the security bond, has not been paid to any of the parties to the agreement under Part 5A Division 2 of the Act; and

inviting them to apply under the Act for disposal of the security bond; and

notifying them that if the security bond is still in the bond administrator’s possession after 60 days from the date of the notice the amount will be paid to the Unclaimed Security Bond Account.

The bond administrator is not required to give notice under subregulation (2) to a person if —

under section 81K(3), 81L(3) or 81N(2) of the Act, the bond administrator must pay an amount of the security bond to the person; and

the bond administrator has paid the amount to the person.

The bond administrator is not required to give notice under subregulation (2) to a person if the bond administrator —

is satisfied that the person (the deceased person) has died; and

has not been given any of the following —

evidence of probate of the will of the deceased person;

evidence of administration of the estate of the deceased person;

notice in writing of any will of the deceased person and of intention to prove it;

notice in writing of an intention to apply for administration of the estate of the deceased person.

If after 60 days from the date of a notice under subregulation (2) the security bond is still in the bond administrator’s possession, the bond administrator must pay the amount to the Unclaimed Security Bond Account.

If, because of subregulation (4), the bond administrator is not required to give any notice under subregulation (2) in relation to the security bond, the bond administrator must pay the amount to the Unclaimed Security Bond Account.

A security bond that remains in the Unclaimed Security Bond Account at the expiration of 6 years from the day on which it is paid into that account must be paid into the Consolidated Account.

Part III Divisions 1 and 2 and Part 5A of the Act and regulation 16 apply to a security bond while it is in the Unclaimed Security Bond Account.

For the purposes of this regulation, the bond administrator must establish in the Rental Accommodation Account referred to in Schedule 1 clause 3 of the Act an account called the Unclaimed Security Bond Account.

In this regulation —