New South Wales Consolidated Acts

LANDLORD AND TENANT (RENTAL BONDS) ACT 1977 - SECT 20

20 Rental Bond Interest Account

(1) There shall be paid into the Rental Bond Interest Account all interest received on investments made by the Board under section 19 (3) and subsection (3).

(2) Subject to any specific or general direction given by the Minister, there shall be paid from the Rental Bond Interest Account:

(a) the costs of, or the expenses incurred in, the administration of this Act,

(b) any money that the Board is authorised to invest under subsection (3) for the purpose of that investment, and

(c) any other payments authorised by this Act to be made from that Account.

(2A) There shall be paid such contributions from the Rental Bond Interest Account, as are agreed annually by the Minister, the Minister administering the Property, Stock and Business Agents Act 2002 and the Minister administering the Residential Tenancies Act 1987 and the Residential Parks Act 1998 , for payment of half the costs of the administration of the Residential Tenancies Act 1987 and the Residential Parks Act 1998 in the year ending 30 June next succeeding the year in which an agreement is made.

(2AB) There is payable from the Rental Bond Interest Account such amounts, as are agreed annually by the Minister, the Minister administering the Property, Stock and Business Agents Act 2002 and the Minister administering the Consumer, Trader and Tenancy Tribunal Act 2001 , for the payment of half the costs and expenses incurred in the administration of the Consumer, Trader and Tenancy Tribunal Act 2001 , but only to the extent to which those costs and expenses relate to the exercise of the Tribunal’s jurisdiction in relation to matters arising under the following Acts:

(a) the Community Land Management Act 1989 ,

(b) the Residential Parks Act 1998 ,

(c) the Residential Tenancies Act 1987 ,

(d) the Retirement Villages Act 1999 ,

(e) the Strata Schemes Management Act 1996 .

(2B) Despite subsections (2A) and (2AB), there is payable from the Rental Bond Interest Account for the purposes set out in those subsections such additional amounts as the Ministers referred to in those subsections may at any time agree.

(2BA) There is payable from the Rental Bond Interest Account any amount authorised by the Director-General of the Department of Fair Trading, with the consent of the Minister, to be paid out of the account in payment of any costs and expenses incurred in the administration of the Retirement Villages Act 1999 .

(2C) Contributions referred to in this section shall be paid in the manner determined by the Treasurer.

(2D) There may be paid from the Rental Bond Interest Account all amounts payable because of the operation of section 11A.

(3) The Board may invest money from the Rental Bond Interest Account:

(a) in the same manner as money from the Rental Bond Account may be invested under section 19 (3) (a), (b) and (c), except that the Board shall, subject to paragraph (c), only so invest money from the Rental Bond Interest Account if it is to be applied for or in connection with housing,

(b) by way of loan to co-operative housing societies registered under the Co-operative Housing and Starr-Bowkett Societies Act 1998 ,

(c) where the money is money set aside for use for the purposes referred to in subsection (2) (a), in the same manner as money from the Rental Bond Account may be invested under section 19 (3) (a), (b) and (c), or

(d) in any other manner prescribed for the purposes of this section.

(4) The Board may make a grant or loan from the Rental Bond Interest Account for the purposes of:

(a) a scheme approved by the Minister for the provision of residential accommodation,

(b) research being conducted, with the approval of the Minister, into matters relevant to the relationship of landlord and tenant, or

(c) other activities approved by the Minister that are relevant to matters associated with the relationship of landlord and tenant,

subject to compliance with any conditions imposed by the Minister when giving the approval.