New South Wales Consolidated Regulations

RETIREMENT VILLAGES REGULATION 2017

- Made under the Retirement Villages Act 1999
- As at 28 July 2023
- Reg 485 of 2017

TABLE OF PROVISIONS

   PART 1 - PRELIMINARY

   1.      Name of Regulation
   2.      Commencement
   3.      Definitions
   4.      Definition of "capital maintenance"
   5.      Definition of "item of capital"
   6.      Definition of "operator"
   7.      Definition of "optional services"
   8.      Definition of "resident"
   9.      Definition of "retirement village"

   PART 2 - INFORMATION ABOUT RETIREMENT VILLAGES

   10.     Representations in promotional material
   11.     General inquiry document and disclosure statement
   12.     Copies of certain documents to be available to residents and prospective residents
   13.     Operator to make safety inspection report available to residents

   PART 3 - VILLAGE CONTRACTS AND VILLAGE RULES

   14.     Amount payable for legal and other expenses
   15.     Condition report
   16.     Matter to be excluded from village contract
   17.     Standard form of village contract
   17A.    Current village contract information
   18.     Village rules

   PART 4 - FINANCIAL MANAGEMENT

           Division 1 - Annual budget

   19.     Matters that must be dealt with in proposed annual budget
   19A.    Matters to be included in proposed annual budget--3-year report
   20.     Notice accompanying proposed annual budget
   21.     Limit on contingencies in annual budget

           Division 2 - Recurrent charges

   22.     Notice of variation--fixed formula
   23.     Notice of variation--no fixed formula and not exceeding CPI
   24.     Notice of variation--no fixed formula and greater than CPI
   25.     Provision of information regarding recurrent charge
   26.     Matters not to be financed by way of recurrent charges
   26AA.   Operator may increase recurrent charges after former occupant's liability to pay ceases

           Division 2A - Asset management plans

   26A.    Definitions
   26B.    Operator to prepare asset management plan
   26C.    Preparation of asset management plans
   26D.    Content of asset management plan
   26E.    Currency of asset management plans
   26F.    Asset management plan to include asset register
   26G.    Calculating effective life of items of capital
   26H.    Revised asset management plans

           Division 3 - Other

   27.     Interest
   28.     Capital works fund
   29.     Copies of audited accounts
   30.     Making good of deficit

   PART 5 - MEETINGS

   31.     Agenda at annual meeting
   32.     Questions at annual meeting
   33.     Proxies

   PART 5A - PAYMENTS IF CERTAIN RESIDENTIAL PREMISES NOT SOLD

           Division 1 - Preliminary

   33A.    Interpretation

           Division 2 - Exit entitlement orders

   33B.    Definition of "prescribed component"
   33C.    Definition of "prescribed period"
   33D.    Secretary must consider matters relating to unreasonable delay of sale of residential premises
   33E.    Content of exit entitlement orders

           Division 3 - Aged care facility payments

   33F.    Operator must keep records in relation to accommodation payments
   33G.    Operator must provide information in relation to accommodation payments

   PART 6 - APPLICATIONS TO TRIBUNAL AND ORDERS

   34.     Time for making application to Tribunal
   35.     Applications to Tribunal by Residents Committee
   36.     Tribunal may determine other party to application made by operator
   37.     Additional orders of Tribunal
   38.     Differential orders
   39.     Disputes between operator and resident

   PART 7 - (Repealed)
   None

   PART 8 - MISCELLANEOUS

   46.     Renovations and alteration of fixtures and fittings
   46A.    Operator may enter residential premises in certain circumstances
   47.     Liability of former occupant if village contract terminated during settling-in period
   48.     Membership of Residents Committee
   49.     Termination notice
   50.     Protection of ingoing contributions
   50AA.   Initial provision of relevant village information
   50AB.   Annual provision of relevant village information
   50AC.   Publication of relevant village information by Secretary
   50A.    (Repealed)
   51.     Service of documents generally
   51A.    Exemption for certain village contracts
   52.     Conduct of written ballot
   52A.    Rules of conduct for operators
   52B.    COVID-19 pandemic--extension of prescribed period
   53.     Savings and transitional provisions
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3
           SCHEDULE 3A
           SCHEDULE 4
           SCHEDULE 5
           SCHEDULE 5A
           SCHEDULE 6
           SCHEDULE 7