152
CurrentAmending certain recurrent charges otherwise than in accordance with Act
Part 7Financial management of retirement villages
Division 7.3Recurrent charges
152 Amending certain recurrent charges otherwise than in accordance with Act
(1)
The operator of a retirement village commits an offence if—
(a)
a village contract provides that recurrent charges payable under the contract are to be amended as set out in section 150 (Recurrent charges amended otherwise than by fixed formula); and
(b)
the operator increases the recurrent charges; and
(c)
the increase is—
(i)
beyond the upper limit (if any) stated in the contract; or
(ii)
not in accordance with section 150.
Maximum penalty: 50 penalty units.
(2)
An offence against this section is a strict liability offence.
This Act’s bill:Explanatory statementSecond reading speech
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