Retirement Villages (Transitional) Regulations

i Retirement Villages (Transitional) Regulations 2005 S.R. No. 29/2005 TABLE OF PROVISIONS Regulation Page 1. Objective 1 2. Authorising provision 1 3. Commencement 1 4. Definition 1 5. Retirement village notice 2 6. Form of disclosure statement 2 7. List of important information for prospective residents 2 8. Expiry 2 __________________ SCHEDULE 3 ═══════════════ -- 1 of 7 -- 1 STATUTORY RULES 2005 S.R. No. 29/2005 Retirement Villages Act 1986 Retirement Villages (Transitional) Regulations 2005 The Lieutenant-Governor, having assumed the administration of the government of the State, with the advice of the Executive Council, makes the following Regulations: Dated: 10 May 2005 Responsible Minister: MARSHA THOMSON Minister for Consumer Affairs RUTH LEACH Acting Clerk of the Executive Council 1. Objective The objective of these Regulations is to prescribe information and forms for the purposes of the Retirement Villages Act 1986 as a transitional measure. 2. Authorising provision These Regulations are made under section 43 of the Retirement Villages Act 1986. 3. Commencement These Regulations come into operation on 23 May 2005. 4. Definition In these Regulations, "the Act" means the Retirement Villages Act 1986. -- 2 of 7 -- S.R. No. 29/2005 Retirement Villages (Transitional) Regulations 2005 2 5. Retirement village notice For the purposes of section 9(3)(a) of the Act, a notice under section 9(1) of the Act must contain the information in Part A of the Schedule in addition to the information required by sections 9(3)(b) and (c) of the Act. 6. 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 the Schedule. 7. 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 the Schedule. 8. Expiry These Regulations cease to have any force or effect on 1 August 2006. __________________ r. 5 -- 3 of 7 -- S.R. No. 29/2005 Retirement Villages (Transitional) Regulations 2005 3 SCHEDULE PART A Regulation 5 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— 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. (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. __________________ Sch. -- 4 of 7 -- S.R. No. 29/2005 Retirement Villages (Transitional) Regulations 2005 4 PART B Regulation 6 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: 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 . __________________ Sch. -- 5 of 7 -- S.R. No. 29/2005 Retirement Villages (Transitional) Regulations 2005 5 PART C Regulation 7 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; (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; Sch. -- 6 of 7 -- S.R. No. 29/2005 Retirement Villages (Transitional) Regulations 2005 6 (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. ═══════════════ Sch. -- 7 of 7 --