New South Wales Consolidated Acts

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Residents' consent to expenditure

114 Residents' consent to expenditure

(1) The operator of a retirement village must (whether by way of a notice referred to in section 112 or otherwise) seek the consent of the residents of the village to the expenditure itemised in the proposed annual budget.
: Maximum penalty--100 penalty units.
(2) The operator must provide such information in relation to the proposed expenditure as the Residents Committee (or, if there is no Residents Committee elected for the village, any resident) reasonably requests for the purpose of deciding whether consent should be given to the budget.
(3) Without limiting subsection (2), it is reasonable for the Residents Committee or a resident to request to see quotations for any work proposed to be carried out or for any service or facility proposed to be provided.
(4) The residents concerned must, within 30 days after receiving a request for consent to a proposed annual budget (or an amended budget)--
(a) meet, consider and vote on the budget, and
(b) advise the operator that they consent, or do not consent (as the case may be) to the budget, and
(c) if they do not consent to the budget--specify the item or items in the budget to which they object.
(5) If the operator is not advised as required by subsection (4) (b), the residents are taken to have refused consent to the budget.
(6) If the operator fails to seek the consent of the residents, the residents are taken to have refused consent to the budget.
(7) An operator who is the operator of more than one retirement village must deal with each village separately under this section.
(8) Subsections (1)-(6) do not apply, and the residents are taken to have consented to the proposed annual budget, if the recurrent charges payable by the residents--
(a) have not been varied, or
(b) have been varied in accordance with section 104 (1) (a) or 105A.

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