Western Australian Current Acts Western Australian Current Acts (1) The Commissioner
may grant an exemption certificate to a person to whom section 76 applies if
—
(a) the
person applies for the certificate in the approved form and pays the
prescribed fee; and
(b)
satisfies the Commissioner that neither the wellbeing nor financial interests
of the residents of a retirement village will be at risk if the person —
(i)
is the operator of the retirement village; or
(ii)
is in any way, whether directly or indirectly, concerned
in the administration of the retirement village,
as the case requires.
(2) An exemption
certificate may be granted subject to any condition or limitation the
Commissioner considers appropriate and specifies in the certificate, which may
include a limitation on the period during which the certificate has effect.
(3) The Commissioner
may at any time revoke an exemption certificate by written notice given to the
person granted the certificate.
(4) An exemption
certificate is cancelled by force of this subsection if the person granted the
certificate becomes a person to whom section 76 applies because of the
occurrence, after the person has been granted the certificate, of a
bankruptcy, conviction, disqualification, winding up or other matter relevant
to that section.
(5) A person must
return an exemption certificate to the Commissioner within 14 days after the
certificate is revoked under subsection (3) or cancelled under subsection (4).
Penalty for this subsection: a fine of $20 000.
[Section 77C inserted: No. 36 of 2012 s. 17;
amended: No. 42 of 2024 s. 45, 48(1), 49 and 50.]