New South Wales Consolidated Acts
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RETIREMENT VILLAGES ACT 1999 - SECT 105
Recurrent charges varied by fixed formula
(1) If a village contract provides that recurrent charges are to be varied
according to a fixed formula, the operator of the village must give at least
14 days' written notice of the variation to the resident concerned.
notice must specify--
(a) the amount of the new recurrent charges, and
the date from which the new recurrent charges are payable, and
(c) such other
information as may be prescribed by the regulations.
(3) A resident of the
retirement village who is a party to a village contract referred to in
subsection (1) is not required to pay any increase in his or her
recurrent charges until notice of the increase is given as required by this
(4) The operator of a retirement village must not increase (or
attempt to increase) recurrent charges that are to be varied according to a
fixed formula otherwise than in accordance with that formula and this section.
: Maximum penalty--50 penalty units.
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