Retirement Villages Act 2012

means—

an amount payable by or on behalf of a person to the operator of a retirement village under a residence contract; or

any other amount paid by or on behalf of a person to the operator of a retirement village in consideration for, or in expectation of, the person or someone else becoming a resident of the village; but

does not include the following:

a waiting list fee;

a recurrent charge;

if the resident is the registered proprietor of a lease, the owner of a unit in a units plan or the owner of a lot in a community title scheme where the residential premises are located—the purchase price of the land or lot;

if the person owns shares in a company title scheme that give rise to a residence right in relation to the residential premises—the purchase price of the shares;

a payment prescribed by regulation.

Power to make a regulation in relation to a matter includes power to make provision in relation to a class of matter (see Legislation Act, s 48 (2)).