Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES AMENDMENT ACT 2016 (NO. 30 OF 2016) - SECT 25

Section 75 (1) and (2)

substitute

    (1)     A refund or a payment under section 74 to a former occupant, other than a former occupant who is a registered interest holder, must be made within—

        (a)     14 days after the day the village contract is ended; or

        (b)     if another period is ordered by the ACAT—the ordered period.

    (2)     A refund or a payment under section 74 to a former occupant who is a registered interest holder must be made within 14 days after the earliest of the following:

        (a)     the day the operator receives full payment under a residence contract with an incoming resident of the premises;

        (b)     the day the operator enters into a village contract with an incoming resident of the premises;

        (c)     the day the operator enters into a residential tenancy agreement with an incoming tenant of the premises;

        (d)     the day a person takes up residence in the premises with the operator's consent;

        (e)     if the operator buys the premises from the former occupant—the day the operator completes the purchase.