Retirement Villages Act 1992

The Commissioner may, on application made by an operator in the approved form and within the prescribed time, extend, by up to 12 months, the period within which the operator would otherwise have to comply with —

the requirement to pay an exit entitlement in relation to a particular resident under Division 2; or

the requirement to enter into a contract for, and complete, the purchase of residential premises in relation to a particular resident under Division 3.

The Commissioner —

must, when granting an extension, specify a later date on or before which the operator must comply with the requirement; and

may, if satisfied that any condition to which the extension is subject has not been complied with, bring forward the later date by written notice to the operator.

The operator must comply with the requirement on or before the date so specified or brought forward.

The Commissioner —

may grant an extension unconditionally or subject to conditions; and

may, by written notice to the operator, vary the conditions to which an extension is subject.

Without limitation, the conditions to which an extension may be subject include conditions —

requiring part payment, or payment in instalments, of an amount in advance of the specified date; and

requiring payment of interest at the prescribed rate.

An operator must comply with any condition of an extension.

The Commissioner may only grant an operator an extension if the Commissioner —

has not previously granted the operator an extension in respect of the requirement in relation to the particular resident; and

is satisfied that exceptional circumstances make it unreasonable for the operator to have to comply with the requirement.

Without limiting the matters the Commissioner may consider in deciding whether to grant an extension, or to impose or vary conditions of an extension, the Commissioner must consider the following —

the operator’s financial capacity to comply with the requirement;

the impact, including the financial impact, on residents of the retirement village (and, for a resident who has died, on the beneficiaries of the resident’s estate);

whether the operator or the particular resident has unreasonably delayed —

the entry into occupation of the relevant premises by the next resident; or

the sale of the premises;

submissions, if any, made to the Commissioner by the operator or the particular resident;

any other prescribed matter.

The operator may apply to the Tribunal for a review of a decision by the Commissioner —

not to grant an extension; or

to impose or vary conditions of an extension; or

to bring forward the later date on or before which the operator must comply with the requirement.

The particular resident may apply to the Tribunal for a review of a decision by the Commissioner —

to grant an extension; or

to impose or vary conditions of an extension.