Occupation right not to be created unless memorial is lodged
16 Occupation right not to be created unless memorial is lodged
A person must not invite other persons to make applications, offers or proposals to enter into a contract, which has or would have the effect of creating or giving rise to a right to occupy residential premises in a retirement village in respect of which a memorial is required to be lodged under section 15 and has not been so lodged.
Penalty for this subsection: a fine of $20 000.
An owner must not enter into a contract which has or would have the effect of creating or giving rise to a right to occupy residential premises in a retirement village in respect of which a memorial is required to be lodged under section 15 and has not been so lodged.
Penalty for this subsection: a fine of $20 000.
Subject to section 75, a person who is a resident and has entered into a contract in respect of which there has been a contravention of subsection (1) or (2) may rescind the contract not later than 6 months after that person becomes aware of the contravention.
[Section 16 amended: No. 42 of 2024 s. 50 and s. 52.]
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