Western Australian Current Regulations Western Australian Current Regulations (1) In this
regulation —
payment means a payment that is paid to the
administering body of a retirement village in consideration for, or in
contemplation of, admission of the person by or on whose behalf the payment
was made as a resident in the retirement village.
(2) A payment is
excluded from the ambit of the definition of premium in section 3(1) of
the Act if —
(a) the
payment relates to admission of a person as a resident of a retirement village
for a period of 12 months or less; and
(b) the
total amount of the payment and each other payment (if any) that is paid in
respect of that admission is an amount of $1 500 or less.
[Regulation 3A inserted: Gazette 24 Mar 2015
p. 994.]