New South Wales Consolidated Acts

RETIREMENT VILLAGES ACT 1999 - SECT 182A

182A Application of Part

(1) This Part applies to a village contract if--

(a) there has been an ingoing contribution paid by a resident (other than a registered interest holder) under a village contract that includes a provision that entitles the resident to a refund of the whole, or any part, of that ingoing contribution, and

(b) any such refund exceeds the amount prescribed by the regulations.

(2) This Part extends to any such village contract that was in force immediately before the commencement of this section.

(3) Despite subsections (1) and (2), this Part does not apply to a village contract with respect to residential premises in a retirement village that gives rise to the residence right of a registered interest holder.