📘 Retirement Villages Amendment Act 2024
The Retirement Villages Amendment Act 2024 amends the Retirement Villages Act 1992 to update regulations around resident contracts, exit entitlements, capital maintenance, resident participation, and village modifications. It also makes related changes to the Duties Act 2008 and the Rates and Charges (Rebates and Deferments) Act 1992.
Impact
This act affects retirement village residents and operators by changing the rules around contracts, finances, and village management. It introduces new requirements for operators regarding financial transparency, capital maintenance, and resident involvement. Residents gain more rights related to exit entitlements and village modifications.
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