Queensland Numbered Acts

RETIREMENT VILLAGES AMENDMENT ACT 2006 No. 6 - SECT 51

Section 112--

omit, insert--

'(1) At the request of a resident, the scheme operator must, within 28 days after receiving the request, give the resident a quarterly financial statement.

Maximum penalty--100 penalty units.

'(2) For subsection (1), the statement must list, for the quarter--

(a) the income of, and expenditure from--

(i) the capital replacement fund; and

(ii) the maintenance reserve fund; and

(b) the expenditure involved in providing each general service.

'(3) For subsection (1), the statement need not be audited, but must be in a form that is capable of being audited.

'(4) At the request of the residents committee, the scheme operator must give the residents committee a document that explains--

(a) the expenditure involved in providing each general service; and

(b) any increase in the expenditure involved in providing a general service that varies from the expected expenditure for the general service in the budget for charges for general services.

Maximum penalty--100 penalty units.'.