Retirement Villages Act 1986

In this Act—

as consideration for the purchase of a unit in the village; or

in consideration of the right being conferred on the person; or

as a donation, on the making of which the right is conferred on the person; or

in consideration of—

acquiring shares in a company that confers the right on the holder of the shares; or

acquiring units in a unit trust that confers the right on the holder of the units; or

under any other prescribed class of legal arrangement.

The definition of entry payment in subsection (1) applies to a payment, whether the payment is made—

by—

the person on whom the right to occupy premises is conferred; or

another person on behalf of the person on whom the right to occupy premises is conferred; and

as—

a lump sum; or

instalments, if the total amount payable is expressed as one fixed amount in the contract.

The definition of entry payment in subsection (1) does not apply to the following payments—

maintenance charges, charges for an optional service, and any other prescribed payments;

rent.