Page 2491 - Week 08 - Wednesday, 18 August 1993
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I might briefly refresh members' memories of these amendments. Section 62AF is being amended to extend from three days to seven days the time the lessee has in which to sign and return a condition report to the landlord. Section 62AP is being amended to extend from 10 days to 14 days the period allowed to notify a dispute in respect of a claim for bond moneys. Section 62AM is being amended to prevent one party only of a lease unjustly obtaining the bond money. It ensures that both lessor and lessee are required to approve payment of a bond out of a trust fund unless one is directing full payment to the other.
The amendment to section 62AP allows joint application to allow pay-out either at the end or before termination of a lease. The amendment to section 62AN removes the notification procedures where both parties seek a joint application. Proposed new subsection 62AP(4) ensures that more money cannot be paid out in a bond refund than was paid in. Subsection 62AS(2) is being amended so that if the address of one party cannot be found an advertisement in the press will be allowed. The intention there is to avoid not processing either the bond or a claim and thus holding up matters. I might add that this removes the director of the Rental Bond Office as a nominal respondent in proceedings in the Small Claims Court.
I repeat, Madam Temporary Deputy Speaker, that we have no problems in supporting these amendments, although I do have one minor point which the Minister might address when he responds; namely, the extension from 10 days to 14 days to notify a dispute. I understand that there was an alternative suggestion for eight working days rather than 14 days simple. Perhaps the Minister might explain the reason for the course that was taken.
While we do not oppose these amendments, we certainly do regret that there is not at least one other amendment so that the interest accruing to the Office of Rental Bonds is passed back to the tenants to whom it is rightfully due. The amount of money involved is not insignificant. While the 1992-93 information is not yet available, in the previous financial year interest totalled $475,000, and a $628,000 yield was estimated in 1992-93. This interest is being withheld from the people who provided the original capital. I submit to you that that is a situation which, if it occurred in private enterprise, without prior agreement, properly would be the subject of legal action.
In its arrogant decision not to refund the interest due to the tenants, the Government announced that these funds would be used for the administration of the Office of Rental Bonds, for information programs for landlords and tenants, and for the provision of housing assistance measures for low income renters. I have previously expressed my reservations about using those funds for housing assistance measures for low income renters. I would now direct my concerns to the second use of the interest money, and that is information programs, because I understand that on 5 October International Tenants Day is to be celebrated by the Office of Rental Bonds. Do not look at me like that, Mr De Domenico; I am speaking the truth. International Tenants Day is going to be celebrated on 5 October. I do not know what International Tenants Day is. I do not know whether it celebrates tenants who travel and live in a series of countries, thus becoming international tenants or - - -
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