New South Wales Consolidated Acts
[Search this Act]
RETIREMENT VILLAGES ACT 1999 - SECT 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
(4) The residents concerned must, within 30 days after receiving a
request for consent to a proposed annual budget (or an amended budget)--
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
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
(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,
(b) have been varied in accordance with section 104 (1) (a) or 105A.
AustLII: Copyright Policy