Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES AMENDMENT ACT 2016 (NO. 30 OF 2016) - SECT 32

substitute

150     Recurrent charges amended otherwise than by fixed formula

    (1)     This section applies to the amendment of recurrent charges payable under a village contract if the contract provides that the recurrent charges are to be amended otherwise than in accordance with a fixed formula.

Note     Amendment of recurrent changes otherwise than in accordance with this Act is an offence (see s 152).

    (2)     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 60 days before the day the proposed amendment takes effect.

    (3)     The notice must—

        (a)     state the amount of the proposed recurrent charges; and

        (b)     state the date it is intended that the proposed recurrent charges are to be payable; and

        (c)     include details of any action taken to minimise the proposed amendment of recurrent charges; and

        (d)     state that the amendment will take effect only if the residents affected by the proposed amendment consent to the amendment or the ACAT orders that it take effect; and

        (e)     include anything else prescribed by regulation.

    (4)     A notice may—

        (a)     cancel an earlier notice under this section; or

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

    (5)     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 the earlier notice was given.

    (6)     However, the 30-day period mentioned in section 153 (2) (Residents consent to amendment) begins, in relation to a later notice, on the day the later notice is actually given.

    (7)     If the operator operates more than 1 retirement village, the operator must deal with each village separately under this section.