Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES ACT 2012 (NO. 38 OF 2012) - SECT 11

In this Act:

"ingoing contribution"—

        (a)     means—

              (i)     an amount payable by or on behalf of a person to the operator of a retirement village under a residence contract; or

              (ii)     any other amount paid by or on behalf of a person to the operator of a retirement village in consideration for, or in expectation of, the person or someone else becoming a resident of the village; but

        (b)     does not include the following:

              (i)     a waiting list fee;

              (ii)     recurrent charges;

              (iii)     if the resident is the registered proprietor of a lease, the owner of a unit in a units plan or the owner of a lot in a community title scheme where the residential premises are located—the purchase price of the land or lot;

              (iv)     if the person owns shares in a company title scheme that give rise to a residence right in relation to the residential premises—the purchase price of the shares;

              (v)     a payment prescribed by regulation.

Note     Power to make a regulation in relation to a matter includes power to make provision in relation to a class of matter (see Legislation Act, s 48 (2)).