Terms used
75A Terms used
In this Part —
assets, of the operator of a retirement village, means —
if the owner of land used for the purposes of the retirement village is the sole operator of the retirement village — that land and any other property used for the purposes of the retirement village by the owner; or
if the owner of land used for the purposes of the retirement village is not the sole operator of the retirement village — the land and property of the owner referred to in paragraph (a) and any other property used for the purposes of the retirement village by an operator other than the owner;
functions, of the operator of a retirement village, means the powers and duties that the operator exercises and performs in the administration of the retirement village under this Act or another written law;
property includes money, bank credits, travellers cheques, bank cheques, money orders, shares, securities, bonds, debt instruments, drafts and letters of credit;
statutory manager means a person appointed under section 75B.
[Section 75A inserted: No. 36 of 2012 s. 16; amended: No. 42 of 2024 s. 44 and 48(1).]
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