Retirement Villages (Records and Notices) (Amendment) Regulations 2006

i Retirement Villages (Records and Notices) (Amendment) Regulations 2006 S.R. No. 93/2006 TABLE OF PROVISIONS Regulation Page 1. Objectives 1 2. Authorising provision 1 3. Principal Regulations 2 4. Revocation 2 5. Definition 2 6. Amendment of objectives 2 7. Regulations 8 to 11 inserted 2 8. Retirement village notice 2 9. Form of disclosure statement 3 10. Residence documents 3 11. List of important information for prospective residents 3 8. Amendment of Schedule 4 9. Schedule 2 inserted 4 10. Revocation of superseded regulations 8 ═══════════════ ENDNOTES 9 -- 1 of 10 -- 1 STATUTORY RULES 2006 S.R. No. 93/2006 Retirement Villages Act 1986 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 The Governor in Council makes the following Regulations: Dated: 25 July 2006 Responsible Minister: MARSHA THOMSON Minister for Consumer Affairs RUTH LEACH Clerk of the Executive Council 1. Objectives The objectives of these Regulations are— (a) to amend the Retirement Villages (Records and Notices) Regulations 2005 to prescribe information and forms for the purposes of the Retirement Villages Act 1986 and to prescribe certain residence documents for the purposes of the Retirement Villages Act 1986; and (b) to amend the Retirement Villages Regulations 1998 by revoking regulations 1(a) and 4 of those Regulations. 2. Authorising provision These Regulations are made under section 43 of the Retirement Villages Act 1986. -- 2 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 2 3. Principal Regulations In these Regulations, the Retirement Villages (Records and Notices) Regulations 20051 are called the Principal Regulations. 4. Revocation The Retirement Villages (Transitional) Regulations 2005 2 are revoked. 5. Definition In these Regulations, "the Act" means the Retirement Villages Act 1986. 6. Amendment of objectives (1) In regulation 1(c) of the Principal Regulations, for "Director" substitute "Director; and". (2) After regulation 1(c) of the Principal Regulations insert— "(d) prescribe information and forms for the purposes of the Retirement Villages Act 1986; and (e) prescribe certain residence documents for the purposes of the Retirement Villages Act 1986.". 7. Regulations 8 to 11 inserted After regulation 7 of the Principal Regulations insert— '8. Retirement village notice For the purposes of section 9(3)(a) of the Act, the prescribed information which a notice under section 9(1) of the Act must contain is the information in Part A of Schedule 2. r. 3 -- 3 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 3 9. Form of disclosure statement The disclosure statement required by section 19 of the Act must be in the form of the certificate in Part B of Schedule 2. 10. Residence documents (1) For the purposes of the definition of "residence documents" in section 3(1) of the Act, a document which— (a) has the effect; or (b) when executed will have the effect— of giving to a person a right to purchase a residence right relating to a retirement village from a resident of a retirement village is, in relation to that residence right, a prescribed document. (2) In sub-regulation (1), a right of purchase includes— (a) an option to purchase; and (b) any right of purchase which is conditional, contingent or prospective, however expressed. 11. List of important information for prospective residents For the purposes of paragraph (f) of the definition of "residence documents" in section 3(1) of the Act, the list of information required under section 19 of the Act must be in the form of the list set out in Part C of Schedule 2.'. r. 7 -- 4 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 4 8. Amendment of Schedule For the heading to the Schedule to the Principal Regulations substitute— "SCHEDULES SCHEDULE 1". 9. Schedule 2 inserted At the end of the Schedule to the Principal Regulations insert— "__________________ SCHEDULE 2 PART A Regulation 8 ADDITIONAL INFORMATION TO BE CONTAINED IN A RETIREMENT VILLAGE NOTICE 1. The name of the owner of the land (1) For land that is— (a) in an identified folio under the Transfer of Land Act 1958; or (b) not under the operation of the Transfer of Land Act 1958— (in addition to any name required under section 9(3)(c) of the Act), the name of the person who (alone or with others) is the owner of an estate in fee simple in respect of the land, whether the person is the beneficial owner or holds the land on trust or subject to an equity of redemption or other similar right. r. 8 -- 5 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 5 (2) For land that is under the operation of the Transfer of Land Act 1958 (but not in an identified folio under that Act)—the name of the person who (alone or with others) is registered as the proprietor of an estate in fee simple in respect of the land. 2. Signatures The signature of the owner or the owner's legal practitioner or agent. 3. Date The date the notice is signed by the owner or the owner's legal practitioner or agent. __________________ PART B Regulation 9 DISCLOSURE STATEMENT Name of Retirement Village: Address of Retirement Village: I/We of being the owner/owners of the land upon which a retirement village is located certify that— 1. The retirement village notice required by Part 2 of the Retirement Villages Act 1986 was given to the Registrar of Titles on the day of 20 . 2. The particulars of any mortgage, charge or other encumbrances which take priority over the rights of residents under that Act are: 3. The particulars of any agreement entered into relating to the priority of residence rights over earlier encumbrances over the land are: r. 9 -- 6 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 6 4. The notification of the charge created by Part 5 of the Retirement Villages Act 1986 was given to the Registrar of Titles on the day of 20 . __________________ PART C Regulation 11 LIST OF IMPORTANT INFORMATION FOR PROSPECTIVE RESIDENTS YOU SHOULD READ THIS DOCUMENT CAREFULLY. IT CONTAINS A NUMBER OF IMPORTANT THINGS THAT YOU SHOULD CONSIDER BEFORE DECIDING TO ENTER A RETIREMENT VILLAGE. 1. Discuss your decision to enter a retirement village with your family, friends, and other people who usually discuss important matters with you. 2. You should take all of the documents relating to the village to a legal practitioner who understands the financial implications of retirement village contracts. 3. Regarding life at the village itself, you should find out whether— (a) the lifestyle of the village (including social activities and religion) meet your needs; (b) the facilities at the village meet your present needs and whether they will meet what you expect will be your future needs; (c) you have any say in the design, construction and furnishing of your unit if construction is not yet complete; (d) the retirement village provides any nursing care, an emergency call system or other facilities specially designed for the elderly; (e) you can be moved from the village or within the village without your consent, and if so, under what circumstances; (f) your long term occupancy at the village is secure; r. 9 -- 7 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 7 (g) the residents are actively involved in decisions concerning the level of maintenance and services provided and their cost, and how these fees are to be varied in the future. 4. You should also enquire about— (a) pets, visitors, car parking and public transport; (b) when you get access to your money after you leave the village; (c) what system the village has for resolving disputes; (d) what restrictions exist on the persons to whom you may sell your unit; (e) the restrictions (if any) on your use of your unit and of the village facilities generally; (f) what protection you have if the village is sold to an organisation that has management plans or philosophies that are inconsistent with the way in which the village you propose to enter is managed. 5. Compare the terms and amount of repayment of your in-going sum with other charges imposed on residents at the village, such as regular maintenance charges and any other extraordinary costs. 6. Find out how you will have to adapt and alter your existing lifestyle to comply with the regulations and restrictions of life in the village. 7. If the community facilities of the village have yet to be built, find out what guarantee you have that they will be completed. 8. Find out whether the owner can terminate your occupancy at any time, and if so, under what circumstances. 9. If pensioner rebates are to be claimed by the owner or manager on your behalf, find out whether you will receive all the benefits of the rebates. IF YOU ARE UNCERTAIN ABOUT ANY ASPECT OF THE VILLAGE OR THE DOCUMENTS YOU HAVE RECEIVED FROM THE VILLAGE, YOU SHOULD SEEK EXPERT ADVICE.". r. 9 -- 8 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 8 10. Revocation of superseded regulations Regulations 1(a) and 4 of the Retirement Villages Regulations 1998 3 are revoked. ═══════════════ r. 10 -- 9 of 10 -- S.R. No. 93/2006 Retirement Villages (Records and Notices) (Amendment) Regulations 2006 9 ENDNOTES 1 Reg. 3: S.R. No. 162/2005. 2 Reg. 4: S.R. No. 29/2005. 3 Reg. 10: S.R. No. 55/1998. Endnotes -- 10 of 10 --