Definitions—pt 4
32 Definitions—pt 4
In this part:
holding deposit means money paid by or on behalf of a prospective resident to the operator of a retirement village in consideration for not offering particular residential premises in the village to any other person pending the prospective resident’s entering into a residence contract with the operator.
trustee means—
the public trustee and guardian; or
the lawyer for an operator of a retirement village; or
a real estate agent; or
a licensed trustee company under the Corporations Act, section 601RAA; or
someone else prescribed by regulation.
waiting list fee, for a retirement village, means any amount paid to the operator of the village, other than—
an ingoing contribution; or
a holding deposit; or
a payment under a village contract in relation to the village.
This provision refers to the regulations (prescribed by regulation
). Made under this Act:
- Retirement Villages Regulation 2013 · under s 264
This Act’s bill:Explanatory statementSecond reading speech
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