Victorian Current Acts Victorian Current Acts(1) A person who enters into a contract with a resident which purports to create in the resident a right to recover a refundable in-going contribution but which does not provide for the recovery of that contribution from the owner is guilty of an offence.
Penalty: 50 penalty units.
(2) If an owner enters into a contract with a resident and the contract creates in the resident a right to recover from the owner a refundable in-going contribution the contract is to be regarded as having been entered into by all the persons who thereafter become owners of the land.
(3) If a resident has entered into a contract in respect of which there has been a contravention of subsection (1) the resident may rescind all residence contracts entered into by the resident and relating to the retirement village.
S. 31 amended by Nos 85/1998 s. 24(Sch. items 52.15, 52.16), 17/1999 s. 43(4), substituted by No. 32/2020 s. 16.