Repayment out of Homes Victoria bonds generally (1) This section applies if—
(a) the Authority holds an amount of bond paid by Homes Victoria or an agent of Homes Victoria on behalf of a renter; and
(b) the Authority receives a new amount of bond in relation to a residential rental agreement—
(i) for the same premises to which the amount of bond referred to in paragraph (a) relates; and
(ii) from or on behalf of a renter other than the renter referred to in paragraph (a); and
(c) no application for a refund of the amount of bond referred to in paragraph (a) is made in accordance with section 413(1) within 12 months of the date on which the Authority receives the new bond referred to in paragraph (b).
(2) The Authority may pay to Homes Victoria the amount of bond referred to in subsection (1)(a).
(3) After the Authority pays an amount under subsection (2), if the Authority holds a remaining amount of bond in relation to the residential rental agreement for which the amount of bond referred to in subsection (1)(a) was paid, the Authority may pay to the renter the remaining amount of bond.
(4) Homes Victoria must return an amount of bond received under subsection (2) to the Authority if, after receipt of the amount, the Tribunal makes an order requiring the Authority to repay the bond to a person other than Homes Victoria.
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