Provision for payment of ingoing contributions

In force

A village contract that provides for the payment of an ingoing contribution may also provide—

(a)

that the contribution must be paid by instalments at the intervals stated in the contract; and

(b)

if the contribution must be paid by instalments—for interest on the unpaid portion of the contribution to be payable, worked out as prescribed by regulation.

Regulations

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 statement Second reading speech

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69 Provision for payment of ingoing contributions