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Transfer and refund of bond
The Aged Care Act 1997 requires that where a person leaves aged care, the balance of any accommodation bond they paid must be refunded to the person, or their estate, within 2 months of their departure.
A further requirement of the Aged Care Act 1997, is that where a person moves from one facility to another, the balance of any bond paid must be transferred to the person's new facility within 7 days of the residents move. The maximum bond payable to the second facility is the balance refunded by the previous facility.