Retirement Villages Act 2012

A village contract may provide that any recurrent charges payable under the contract—

are to be amended at stated intervals (or on stated dates) according to a fixed formula; or

may be amended otherwise than according to a fixed formula.

If a village contract provides for any recurrent charges payable under the contract to be amended otherwise than according to a fixed formula—

the recurrent charges must not be amended more than once in a financial year; and

any subsequent amendment within that period has no effect.

A village contract must not provide for more than 1 method of amending the recurrent charges payable under the contract.

If a village contract provides for more than 1 method of amending recurrent charges, the method that results in the lowest increase in recurrent charges is the applicable method.