New South Wales Consolidated Acts

RETIREMENT VILLAGES ACT 1999 - SECT 171

171 Purchaser and operator to enter contract

(1) If a vendor for the sale of residential premises in a retirement village is not the operator of the village, the vendor must give the operator of the village sufficient notice of the proposed sale to enable the operator to provide the purchaser with a disclosure statement (and the information required under section 19) at least 14 days before the contract is entered into.

(2) Such a contract is taken to include a provision to the effect that the contract is conditional on the purchaser's entering into a service contract with the operator of the village on or before completion of the purchase.

(3) As soon as practicable after the contract for the sale of the premises is entered into, the vendor must notify the operator in writing of that fact.

(4) If the operator decides not to enter into a service contract with the purchaser, the operator must, not later than 14 days after being notified under subsection (3)--

(a) advise the vendor of that decision and of the reasons for it, and

(b) apply to the Tribunal for an order declaring that the operator is not obliged to enter into the service contract.