Operator to refund certain payments made by resident

In force

If a village contract is ended under this division, the operator of the retirement village must refund or pay to the former occupant—

(a)

for a former occupant who is a registered interest holder (other than a registered long-term sublessee)—the proceeds from the sale of the residential premises to which the resident is entitled under the village contract; and

(b)

any ingoing contribution paid to the operator under the village contract; and

(c)

any recurrent charges paid to the operator under the village contract; and

(d)

any other amount 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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74 Operator to refund certain payments made by resident