New South Wales Consolidated Acts
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RETIREMENT VILLAGES ACT 1999 - SECT 105A
Recurrent charges varied otherwise than by fixed formula--not exceeding variation in CPI
105A Recurrent charges varied otherwise than by fixed formula--not exceeding
variation in CPI
(1) This section applies to the variation of recurrent charges payable under a
village contract if--
(a) the contract provides that recurrent charges are to
be varied otherwise than in accordance with a fixed formula, and
variation does not exceed the prescribed CPI variation.
(3) The operator of a
retirement village must give at least 14 days' written notice of any proposed
variation to the recurrent charges.
(4) The notice must specify--
amount of the new recurrent charges, and
(b) the date from which the new
recurrent charges are payable, and
(c) such other information as may be
prescribed by the regulations.
(5) A resident of a retirement village is not
required to pay any increase in his or her recurrent charges to which this
section applies until notice of the increase is given as required by this
(6) A notice given under this section may be cancelled by a later
notice or a later notice may provide for a lesser increase than the increase
specified in the earlier notice.
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