Housing (Freeholding of Land) Act 1957Reprint noteThis is the last reprint before expiry. Expired on 31 August 2017. See SIA s 56A(2) and SIR s 3 sch 2 pt 2.Housing (Freeholding of Land) Regulation 2006Part 1Preliminary1Short titleThis regulation may be cited as the Housing (Freeholding of Land) Regulation 2006.2CommencementThis regulation commences on 1 July 2006.Part 2Requirements for working out the declared percentage—Act, s 3A3The declared percentageFor section 3A(2)(b) of the Act, the declared percentage must be—

(a)if the equitable percentage is more than 0% but not more than 60%—60%; or

(b)if the equitable percentage is more than 60% but not more than 74%—equal to the equitable percentage; or

(c)if the equitable percentage is more than 74% but not more than 100%—75%; or

(d)if the equitable percentage is more than 100%—the equitable percentage minus 25%, up to a maximum of 100%.

4Calculating the equitable percentageFor section 3, the equitable percentage is the percentage calculated, to 2 decimal places, using the following formula—where—A means the annual land rental percentage equal to—

(a)if a percentage is prescribed under a regulation for the Housing Act 2003, section 136—the prescribed percentage; or

(b)otherwise—3%.

B means the capital indexed Commonwealth bond real yield rate, issued by the Reserve Bank of Australia, for bonds with a maturity date of—

(a)if the declared percentage is declared before 30 September 2007—August 2015; or

(b)if the declared percentage is declared after 30 September 2007—August 2020.

Editor’s note—Capital indexed Commonwealth bond real yield rates may be viewed on the Reserve Bank of Australia’s website at <www.rba.gov.au/Statistics/indicative.html>.EP means the equitable percentage.Example—If A is 3% and the capital indexed Commonwealth bond real yield rate is 2.5%, the equitable percentage would be 120%.Part 3CONCESSIONSpt 3 (ss 5–7) om 2009 SL No. 123s 45pt 3 (ss 5–7) om 2009 SL No. 123s 46pt 3 (ss 5–7) om 2009 SL No. 123s 47pt 3 (ss 5–7) om 2009 SL No. 123s 4sch om 2009 SL No. 123 s 5