Retirement Villages Act 2003

Reprint as at 1 October 2011

Retirement Villages Act 2003

Public Act2003 No 112
Date of assent30 October 2003
Commencementsee section 2
Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.

A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

This Act is administered by the Department of Building and Housing.

Contents

1 Title

Part 1
Preliminary provisions

2 Commencement

3 Purpose

4 Act to bind the Crown

5 Interpretation

6 Meaning of retirement village

7 Obligations of operator

8 Operator and director, trustee, or office holder of operator not to be exempt from liability

9 Power of court to grant relief in proceedings for negligence, etc

Part 2
Registration, occupation right agreements, and related requirements and rules

Registration of retirement villages

10 Retirement villages to be registered

11 Registration is not approval

12 Registration of existing retirement villages

13 Annual return

14 Registrar may alter register

15 Registration to be continuous

16 Certification of registered documents

17 Operator to notify change of circumstances and documentation

Suspension of registration

18 Suspension of registration

Cancellation of registration

19 Cancellation of registration

20 Further requirements as to registration and keeping registers

Memorials

21 Memorial on certificates of title of retirement villages

22 Effect of memorial

23 Memorial and loss of registration

Statutory supervisor to be asked to act as representative

24 Receiver, liquidator, and statutory manager must ask statutory supervisor to represent residents

Offer and advertising prohibited if retirement village not registered

25 No offer of occupation or advertising unless retirement village registered

Other restrictions on advertising

26 Operator must ensure that advertisements are not misleading or deceptive

Occupation right agreements

27 Occupation right agreements

28 Cooling-off period and cancellation for delay

29 Deposits and other payments must be independently held

30 Information to be provided

31 Occupation right agreement voidable

Code of residents' rights

32 Retirement villages to have code of residents' rights

33 Distribution of code of residents' rights

Other information relevant to occupancy

34 Right to be supplied with information relevant to occupancy

Rights of residents in relation to occupancy right

35 No legal impediments to occupation

Part 3
Retirement Commissioner and statutory supervisors

Retirement Commissioner

36 Retirement Commissioner to monitor, etc, effect of this Act

Statutory supervisors

37 Registrar must approve statutory supervisor [Repealed]

38 Operator must appoint statutory supervisor

39 Registrar's consent required for termination or non-renewal of appointment

40 Operator must not indemnify or exempt statutory supervisor from liability

41 Exemption from requirement for statutory supervisor

42 Duties of statutory supervisor

43 Powers of statutory supervisor

44 Public statement by statutory supervisor

45 Liability for loss limited

46 Statutory supervisor may require information

Auditor must answer questions and supply information

47 Auditor must answer questions and supply information

Part 4
Dispute resolution, enforcement, and penalties

Dispute resolution

48 Interpretation

49 Resident's rights may be exercised by personal representative

50 Types of dispute procedures

51 Complaints facility

52 Resident or operator may require dispute resolution

53 Types of dispute for which resident may give dispute notice

54 Types of dispute for which operator may give dispute notice

55 Operator must notify statutory supervisor of certain disputes

56 Form of dispute notice

57 Time for giving dispute notice

58 Retirement Commissioner approves persons eligible for appointment to disputes panel

59 Operator must appoint disputes panel

60 Composition of disputes panel

61 Disputes panel must disclose interests and previous involvement

62 Operator's duties to secure independence of disputes panel

63 Meaning of previous involvement in dispute

64 Conduct of hearing

65 Hearing must be held

66 Panel may refuse to hear dispute

67 Evidence and attendance

68 Matters that disputes panel must take into account in deciding certain disputes

69 Powers of disputes panel

70 Additional powers of disputes panel in certain disputes

71 Record of decision

72 Effect and enforcement of dispute resolution decisions

73 Effect of vacancy in panel membership

74 Costs on dispute resolution

75 Appeal to District or High Court

Enforcement and penalties

76 Jurisdiction of High Court

77 Jurisdiction of District Court

78 Jurisdiction of Disputes Tribunal

79 Contraventions of certain provisions an offence

80 Injunctions may be granted by court for contravention of certain provisions

81 Order to disclose information or publish advertisement

82 Other orders

83 Monetary limits and exercise of jurisdiction

84 General provisions relating to section 82 orders

85 Defences

86 Finding in proceedings to be evidence

Part 5
Registrar of Retirement Villages, code of practice, and miscellaneous matters

Registrar of Retirement Villages

87 Appointment of Registrar

88 Power of Registrar to delegate

Code of practice

89 Code of practice must be prepared and published

90 Duration and variation of code of practice

91 Retirement Commissioner to provide publication information

92 Status of code of practice

93 Exemption from requirement to comply with code of practice

Registered office of retirement village

94 Registered office

Change of registered office

95 Change of registered office

Address for service of retirement village

96 Address for service

Registrar's powers of inspection

97 Registrar's powers of inspection

98 Disclosure of information and reports

99 Certain provisions of Companies Act 1993 apply

100 Deeds of participation

101 Regulations

102 Fees and charges

103 Regulations defining retirement villages

104 Regulations prescribing criteria for exemptions under section 41

105 Regulations prescribing criteria for exemptions under section 93

106 Notices

107 Acts not to apply

108 Amendment to Corporations (Investigation and Management) Act 1989

109 Amendments to Financial Reporting Act 1993

110 Amendment to Securities Act 1978

Schedule 1
Registration and register

Schedule 2
Disclosure statements

Schedule 3
Occupation right agreements

Schedule 4
Code of residents' rights

Schedule 5
Matters to be included in code of practice

Reprint notes