New South Wales Consolidated Acts
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RETIREMENT VILLAGES ACT 1999 - SECT 104
Variation of recurrent charges
(1) A village contract may provide that any recurrent charges payable under
(a) are to be varied at specified intervals (or on specified dates)
according to a fixed formula (for example, in proportion to variations in the
Consumer Price Index), or
(b) may be varied otherwise than according to a
(2) If a village contract provides for any recurrent charges
payable under it to be varied otherwise than according to a fixed formula, the
recurrent charges must not be varied more than once in any 12 month period.
Any second or subsequent purported variation within that 12 month period is of
(3) A village contract must not provide for more than one method
of variation of the recurrent charges payable under it.
(4) If a
village contract provides for more than one method of variation of
recurrent charges in contravention of subsection (3), the method that results
in the lowest increase in recurrent charges is the applicable method.
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