📘 Retirement Villages Amendment Act 2012
036 of 2012Assented 5 November 2012
The Retirement Villages Amendment Act 2012 amends the Retirement Villages Act 1992 to address recurrent charges, statutory management, and compliance requirements for residence contracts. It introduces new sections regarding financial matters and oversight of retirement villages.
Impact
Retirement village residents, administering bodies, and prospective residents are affected. The Act clarifies financial obligations, introduces statutory managers for better oversight, and sets stricter rules for residence contracts, impacting their rights and responsibilities.
Sectors
housingfinancepublic_sector
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