Retirement Villages Act 2012

A resident of a retirement village may, within the cooling-off period for the resident’s village contract, rescind the contract by written notice given to—

the other party to the contract; and

if the operator is not the other party to the contract—the operator.

A contract must not be completed until after the cooling-off period has expired.

The cooling-off period under a residence contract is waived if the resident starts living in the residential premises to which the contract relates.

This provision has effect despite any other territory law.

In this section:

starting immediately after midnight on—

the day the resident receives a copy of the contract signed by the operator; or

for a contract that is, or includes, a residence contract in relation to which the operator is not the other party—the day the residence contract is entered into; and

ending at midnight on the 7th business day after that day.

For when an operator must give a resident a copy of a signed village contract, see s 60 (1) and (2).