Retirement Villages Act 1992

A contract is rescinded under section 14 or 16 by notice in writing given by the person entitled to rescind the contract to all other parties to the contract.

The rescission of a contract under section 14 or 16 takes effect on the date of service of the notice under subsection (1) of this section and the contract is terminated at the time when the notice is so given.

Subject to the making of an order to the contrary under subsection (4), if a contract is rescinded under section 14 or 16 —

the rescission notice is to be regarded as applying to the service contract, the residence contract and all collateral contracts entered into by the person rescinding the contract; and

that person is entitled to the repayment of all moneys paid by that person or on that person’s behalf in connection with those contracts and such moneys are recoverable, by action as for debt, by that person accordingly.

If a contract is rescinded under section 14 or 16, the Tribunal may, upon application by any party to that contract, make —

such orders as it thinks just providing for the repayment of part or all of the moneys paid by the person rescinding the contract, or on that person’s behalf, in connection with the contracts to which the rescission notice applies under subsection (3)(a); and

such other vesting or consequential orders as it thinks just,

An application under subsection (4) must be made within 30 days of the day on which the contract is rescinded.

An owner or operator who refuses or fails to return moneys to which a person is entitled under subsection (3) or (4) commits an offence.

A rescission of a residence contract under section 14 or 16 has effect even if the residence contract may also be subject to the provisions of the Community Titles Act 2018 or the Strata Titles Act 1985 and this section does not derogate from the rights of a buyer under those Acts.

If under section 14 or 16 a person rescinds a residence contract entered into by that person after the property purchased by that person has been registered in that person’s name, then that person, subject to the tender to that person of repayment as provided by subsection (3) or (4), must —

execute such instruments as, being necessary to register that title in the name of the former owner or the former owner’s nominee, are presented to that person for execution by or on behalf of the former owner; and

deliver up to the former owner or the former owner’s nominee any relevant certificate of title in that person’s possession or under that person’s control,