New South Wales Consolidated Acts

RETIREMENT VILLAGES ACT 1999 - SECT 57

57 Certain persons not to be operators

(1) A person to whom this section applies must not--

(a) be an operator of a retirement village, or

(b) be involved in the promotion or sale of residence rights in a retirement village, or

(c) be in any way (whether directly or indirectly) concerned, or take part, in the management or control of a retirement village.

: Maximum penalty--100 penalty units.

(2) This section applies to the following persons--

(a) a person who is insolvent under administration,

(b) a person who is a director of a Chapter 5 body corporate,

(c) a person who was a director of a company that has been wound up (otherwise than voluntarily),

(d) a person who has been convicted (in New South Wales or elsewhere) of an offence involving--

(i) physical violence to another person, or

(ii) fraud or dishonesty, being an offence punishable on conviction by imprisonment for a period of not less than 3 months.

(3) However, this section applies--

(a) to a person referred to in subsection (2) (c)--only for the period of 5 years immediately following the winding-up, and

(b) to a person referred to in subsection (2) (d)--only for the period of 5 years following the conviction (or, if the person was sentenced to imprisonment, within the period of 5 years following the person's release).

(3A) The Secretary may, on the application of a person who is a director of a Chapter 5 body corporate, exempt the person from the operation of this section if, on the basis of information provided to the Secretary by the person, the Secretary considers it appropriate to do so.

(4) In this section,
"Chapter 5 body corporate" and
"insolvent under administration" have the same meanings as they have in the Corporations Act 2001 of the Commonwealth.