"departure fee" is--(a) any amount of money payable under a village contract by a former occupant of a retirement village that is calculated in relation to--(i) the period, or part of the period, during which the former occupant has or had a residence right in the village, and(ii) such period after the termination of the former occupant's residence right as is specified in section 160 (2), or(b) any other money payable by a former occupant of a retirement village that is declared by the regulations to be a departure fee.Note : Departure fees include the fees known as
"deferred fees" under the 1995 Retirement Village Industry Code of Practice and
"deferred management fees" under the 1989 Retirement Village Industry Code of Practice .
(2) However, a departure fee does not include recurrent charges.
(3) A departure fee must be calculated on a daily basis.
(4) If a resident or former occupant of a retirement village moves to other residential premises in the village (or in another retirement village that is managed or controlled by the same operator or a close associate of that operator), the resident or former occupant is taken to have a continuous residence right for the purpose of the calculation of the departure fee.