Counsel Assisting’s final submissions – recommendation 102
The Law Council of Australia writes in relation to recommendation 102 – liquidity requirements – of the Counsel Assisting’s final submissions. This response is supplementary to the Law Council’s letter dated 12 November 2020 and reflects views received since then.
The Law Council’s specialist National Elder Law and Succession Law Committee (NELSC) welcomes the recommendation that the proposed Australian Aged Care Commission should be empowered under statute to impose liquidity requirements on approved providers of residential aged care which hold refundable accommodation deposits (RADs). It considers a clear and enforceable liquidity requirement to be a way to ensure that residential care providers are able to repay RADs promptly as and when required.
You can read the full submission below.