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New Zealand Legislation: Regulations

Regulations are laws made under Acts

Reprint as at 29 September 2006

Retirement Villages (General) Regulations 2006

(SR 2006/298)

Anand Satyanand, Governor-General

Order in Council

At Wellington this 25th day of September 2006

Present:
His Excellency the Governor-General in Council

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.

The Retirement Villages (General) Regulations 2006 are administered by the Department of Building and Housing.

Pursuant to sections 101 and 104 of the Retirement Villages Act 2003, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

Contents

Part 1
Preliminary

3 Interpretation

Part 2
Forms to be given to Registrar

4 Forms to be given to Registrar

Part 3
Period for certifying registered documents

5 Period for certifying registered documents

Part 4
Provisions relating to occupation right agreements

Subpart 1—Occupation right agreements

6 Provisions that must be in occupation right agreements

7 General provisions

8 Operator’s obligation to run village properly

9 Operator’s obligation to provide financial statements

10 Operator’s obligations relating to residents’ meetings

11 Operator’s obligation to find new resident for unit vacated

12 Procedure if there ceases to be statutory supervisor

Certificates of legal advice on occupation right agreements

13 Certificate of lawyer’s advice on occupation right agreement

Subpart 2—Disclosure statements

Details of matters required by Act to be in disclosure statements

14 Ownership structure and occupancy rights

15 Resident’s interest in residential unit

16 Management arrangements for retirement village

17 Statutory supervisor

18 State of retirement village

19 Services and facilities at retirement village

21 Maintenance and refurbishment

22 Financial accounts for retirement village

23 Cooling-off period and cancellation of occupation right agreement

24 Varying occupation right agreement

25 Termination of occupation right agreement

26 Deductions from payments by and to residents

27 Estimated financial return on disposal of residential unit

28 Exemption from requirement to comply with code of practice

Other matters required to be included in disclosure statements

29 Formal matters

30 Responsibilities for insurance

31 Moving into rest home or hospital care institution in retirement village

32 Effect of marriage, etc, on occupation right agreement

33 Financial assistance

34 Basis for working out prospective financial information

35 Details relating to certain security interests

Other requirements for disclosure statements

36 No statement about entry into occupation right agreement being safe or free from risk

Required attachments to disclosure statements

37 Documents to be made available

Presentation of disclosure statement and attachments

38 Presentation of disclosure statements and documents

Subpart 3—Advertisements

39 Statements about operator’s assets

40 Statements about capital

41 Statements about security of right to occupy unit in retirement village

42 Statements about entry into occupation right agreement being safe or free from risk

43 Prospective financial information

Subpart 4—Voidance of occupation right agreements

44 Rate of interest payable if occupation right agreement avoided

Part 5
Provisions relating to statutory supervisors

Subpart 1—Information and provisions to be included in deeds of supervision

45 Information to be contained in deed

Subpart 2—Provisions to be included in deeds of supervision

46 Provisions mainly about statutory supervisor

47 Provisions containing statutory powers and duties

48 Provisions acknowledging other duties of operator

49 Provisions imposing requirements on operator

50 Provisions limiting operator’s dealings

51 Provisions requiring statutory supervisor’s consent to activities

52 Provisions for statutory supervisor’s stakeholder role

53 Provisions about communications with residents

54 Provisions about supervising termination of occupation right agreements

Subpart 3—Exemption from appointing statutory supervisor

55 Criteria for exemption from having to appoint statutory supervisor

Subpart 4—Extra duties of statutory supervisors

56 Extra duties of statutory supervisors

Schedule 1
Forms to be given to Registrar

Schedule 2
Certificate by lawyer advising intending resident

Schedule 3
Form of statement about statutory supervisors

Schedule 4
Form of statement of information for intending residents

Schedule 5
Form of statement of information about avoiding occupation right agreement

Schedule 6
Requirements for financial statements if there are no audited statements

Explanatory note

Gazette information

Regulations