Australian Capital Territory Numbered Acts

HOUSING ASSISTANCE (AMENDMENT) ACT (NO. 27 OF 1996) - SECT 7

7. Section 15 of the Principal Act is amended—

    (a)     by omitting subsection (1) and substituting the following subsections:

“(1) The amount of rent to be charged in relation to rental housing assistance under a housing assistance program shall be an amount equivalent to market rent.

“(1A) A reference in subsection (1) to market rent, in relation to a property at a particular time, shall be read as a reference to the rent which would be payable if the property were then let by a willing landlord to a willing tenant—

        (a)     who had dealt with each other at arm's length; and

        (b)     each of whom had acted knowledgeably, prudently and without compulsion.”;

    (b)     by omitting from subsection (2) “a rate or” and substituting “the”; and

    (c)     by omitting from subsection (3) “a rate or” and substituting “an”.