New Zealand Legislation: Acts

25 No offer of occupation or advertising unless retirement village registered

• (1) No person may—

  • (a) make, allow to be made, or acquiesce in the making of any offer of occupation or the publication of any advertisement after the expiry of 6 months from the day on which this section comes into force; or

  • (b) make, allow to be made, or acquiesce in the making of any representation that all or part of any property, building, or premises is a retirement village if that representation is included in an advertisement published after the expiry of 6 months from the day on which this section comes into force; or

  • (c) enter into any occupation right agreement after the expiry of 6 months from the day on which this section comes into force—

  that relates to a retirement village that is not registered under this Act.

  (2) Subsection (1) does not apply if—

  • (a) the retirement village has never been registered under this Act; and

  • (b) section 12 is complied with; and

  • (c) the Securities Act 1978 and all other applicable legislation is complied with; and

  • (d) the offer is made and the occupation right agreement is entered into no later than the expiry of 12 months from the day on which this section comes into force.

  (3) Subsection (1) does not apply to a statement made by, or on behalf of, the promoter of a retirement village if the statement is to the effect that the promoter intends to apply for registration of the village under this Act and to make offers of occupation to the public and the statement contains no information other than—

  • (a) the name of the promoter; and

  • (b) a description of the occupation rights intended to be offered, including a brief description of any rights or privileges to be included in the offer; and

  • (c) a statement of the services or facilities to be provided; and

  • (d) a statement of the total number of occupation rights intended to be offered; and

  • (e) the terms of the intended offer; and

  • (f) a description of the class of persons to whom it is intended the offer will be made; and

  • (g) the date on which the promoter expects the offer will be made.