Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES ACT 2012 (NO. 38 OF 2012) - SECT 29

    (1)     The operator of a retirement village must make available at the village or a place of business in the ACT, for inspection at all reasonable times by a prospective resident, copies of the following:

        (a)     a site plan for the village;

        (b)     plans showing the location, floor plan and significant dimensions of residential premises available in the village;

        (c)     the proposed annual budgets (if any) and the approved annual budgets for—

              (i)     each of the last 3 financial years of the village; and

              (ii)     the current financial year; and

              (iii)     the next financial year (if budgets in relation to that year are available);

        (d)     the accounts for the village, audited if required under division 7.5 (Annual accounts), for the last 3 financial years (excluding, during the first 4 months of a financial year, the immediately preceding financial year if the accounts for that year are not available);

        (e)     examples of all village contracts that an incoming resident may be required to enter into;

        (f)     the trust deed for any trust fund into which money paid by the residents is deposited;

        (g)     the village rules;

        (h)     the terms of the development approval, if any, for the village, if—

              (i)     construction of the village is not complete; or

              (ii)     it is a condition of the development approval that a particular service or facility be provided for the life of the village;

              (i)     if there is a capital works fund established for the village—statements of the balance in the fund as at the end of—

              (i)     each of the last 3 financial years of the village; and

              (ii)     the most recent quarter;

        (j)     if the operator is required to provide the residents with quarterly accounts—the most recent quarterly accounts of the income and expenditure of the village;

        (k)     any other documents relating to the village, and to retirement villages generally, prescribed by regulation.

Maximum penalty: 50 penalty units.

Note     Section 258 (Charging for certain information) prohibits the operator of a retirement village from charging for the provision of a document mentioned in subsection (1).

    (2)     An offence against subsection (1) is a strict liability offence.

    (3)     If the village has been in operation for 3 years or less, the documents mentioned in subsection (1) (c), (d) and (i) must relate to each financial year that the village has been in operation.