Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES ACT 2012 (NO. 38 OF 2012) - SECT 150

    (1)     This section applies to the amendment of recurrent charges payable under a village contract if—

        (a)     the contract provides that the recurrent charges are to be amended otherwise than in accordance with a fixed formula; and

        (b)     the amendment does not exceed the amendment that would result from the recurrent charges being increased in proportion to the variation in the CPI (since the recurrent charges were last amended) and rounded to the nearest whole dollar.

    (2)     For paragraph (1) (b), the variation in the CPI since the recurrent charges were last amended is taken to be the difference between—

        (a)     the CPI published most recently before the charges were last amended; and

        (b)     the CPI published most recently before the written notice of the proposed amendment is given.

    (3)     The operator of a retirement village must give a resident of the village written notice of a proposed amendment of recurrent charges under this section at least 14 days before the proposed amendment takes effect.

    (4)     The notice must state the following:

        (a)     the amount of the new recurrent charges;

        (b)     the day the new recurrent charges take effect;

        (c)     anything else prescribed by regulation.

    (5)     A resident who is a party to a village contract mentioned in subsection (1) is not required to pay any increase in the resident's recurrent charges until notice of the increase is given under subsection (3).

    (6)     A notice may—

        (a)     cancel an earlier notice; or

        (b)     provide for a lesser increase than the increase stated in the earlier notice.

    (7)     A notice that provides for a lesser increase than the increase stated in an earlier notice is taken to have been given on the day when the earlier notice was given.