Queensland Numbered Acts

RETIREMENT VILLAGES AMENDMENT ACT 2006 No. 6 - SECT 63

Part 15, after section 237--

insert--

'(1) This section applies if, before the commencement of this section--

(a) a resident had ceased residing in an accommodation unit; and

(b) the resident had not paid the exit fee under the residence contract to the scheme operator.

'(2) For calculating the exit fee the resident may be liable to pay to, or credit the account of, the scheme operator, section 15 and any relevant definitions, as in force immediately before the commencement, continue to have effect.

'(1) This section applies if--

(a) before the commencement of this section, a person had signed a residence contract; and

(b) before the commencement, the cooling-off period for the residence contract had not ended; and

(c) before the cooling-off period ends, and whether before or after the commencement, the scheme operator becomes aware that the particulars in a public information document are inaccurate in a way that may materially affect the interests of a resident of the retirement village.

'(2) Despite section 36(3)(a), the scheme operator is not required to make a full written disclosure of the inaccuracy to the person before the cooling-off period ends.

'(3) However, the scheme operator must make the disclosure as soon as practicable after becoming aware of the inaccuracy.

Maximum penalty--540 penalty units.

'(1) This section applies if--

(a) the cooling-off period for a residence contract entered into before the commencement of this section starts on the day a later event happens or another contract is entered into; and

(b) on or after the commencement, the later event happens or the other contract is entered into.

'(2) Despite section 45A(2), the scheme operator is not required to give the resident written notice of--

(a) the date the later event happens or the other contract is entered into; or

(b) the date the cooling-off period ends.

'(1) This section applies if, before the commencement of this section--

(a) a resident's right to reside under a residence contract, including an existing residence contract, in an accommodation unit in a retirement village is terminated under this Act; and

(b) the scheme operator and the former resident have not, under section 58, as in force immediately before the commencement, agreed on reinstatement work; and

(c) the tribunal has not made an order that work be done to reinstate the former resident's accommodation unit.

'(2) Sections 56 to 59 and any relevant definitions, as in force immediately before the commencement, continue to have effect in relation to the reinstatement of the former resident's accommodation unit.

'(1) If, before the commencement of this section, a scheme operator adopted a budget for the capital reserve fund for the 2006 financial year, sections 92 and 93 and any relevant definitions, as in force immediately before the commencement, continue to have effect for the budget.

'(2) If, before the commencement of this section, a scheme operator adopted a budget for the maintenance reserve fund for the 2006 financial year, sections 98 and 99 and any relevant definitions, as in force immediately before the commencement, continue to have effect for the budget.

'(1) This section applies if, before the commencement of this section--

(a) a resident of a retirement village has vacated the resident's accommodation unit; and

(b) the right to reside in the accommodation unit has not been sold; and

(c) the tribunal has not ordered the scheme operator to pay the former resident's exit entitlement under section 171.

'(2) Section 104 and any relevant definitions, as in force immediately before the commencement, continue to have effect for working out and paying the general services charges for the former resident.

'(1) This section applies if--

(a) immediately before the commencement of this section, the insurance for a retirement village taken out by the scheme operator is subject to an excess; and

(b) the amount of the excess is more than the maximum excess prescribed under a regulation under section 110(4).

'(2) During the transitional period, the scheme operator is taken not to have contravened section 110(4) even though--

(a) the residents have not, by special resolution at a residents meeting, agreed to the excess; or

(b) the excess may be more than 1% of the insured value of the retirement village.

'(3) In this section--

transitional period means the period--

(a) starting on the day this section commences; and

(b) ending on the day the insurance contract ends or is renewed or renegotiated.'.