Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES ACT 2012 (NO. 38 OF 2012) - SECT 32

In this part:

"holding deposit" means money paid by or on behalf of a prospective resident to the operator of a retirement village in consideration for not offering particular residential premises in the village to any other person pending the prospective resident's entering into a residence contract with the operator.

"trustee" means—

        (a)     the public trustee; or

        (b)     the lawyer for an operator of a retirement village; or

        (c)     a real estate agent; or

        (d)     a licensed trustee company under the Corporations Act, section 601RAB; or

        (e)     someone else prescribed by regulation.

"waiting list fee", for a retirement village, means any amount paid to the operator of the village, other than—

        (a)     an ingoing contribution; or

        (b)     a holding deposit; or

        (c)     a payment under a village contract in relation to the village.