Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES ACT 2012 (NO. 38 OF 2012) - SECT 8

    (1)     In this Act:

"residence right", of a person, means—

        (a)     the person's right to occupy residential premises in a retirement village under a contract—

              (i)     under which the person bought the residential premises; or

              (ii)     under which the person bought shares entitling the person to occupy the residential premises; or

              (iii)     in the form of a lease, licence, arrangement or agreement of any kind (other than a residential tenancy agreement)—

    (A)     entered into under division 10.5 (Sale or letting of premises by certain residents); or

    (B)     that contains a term to the effect that this Act does not apply to the residential premises;

              (iv)     prescribed by regulation; or

        (b)     any other right prescribed by regulation.

    (2)     For the definition of "residence right", it does not matter if the person who acquired the right (the "acquirer")—

        (a)     is a corporation, if the residential premises is intended for use by an individual; or

        (b)     acquires it for the purposes of allowing another person to live in the residential premises instead of the acquirer.

    (3)     If subsection (2) applies, a retired person who lives in the residential premises with the acquirer's consent is taken to have the residence right.