(1)  It is taken to be a term of every agreement that may result in a change in the operator of a retirement village, including a change by virtue of the sale of an interest in the land within the village, that, before the change is effected, the person who is to be the new operator is to convene a meeting of residents and tenants at which the person or his or her representative will –

(a) present a report on any changes that are proposed for the retirement village, including any reasonable proposal to change a charge, fee or levy payable by residents as provided by section 14A , and any plans for the future management and operation of the retirement village; and

(b) answer any reasonable question put by a resident or tenant.

(2)  A meeting is to be convened by sending to each resident and tenant, at least 10 business days before the date of the meeting, a written notice setting out –

(a) the time and place of the meeting; and

(b) the reason for the meeting.

(3)  If a change in an operator of a retirement village is effected by an agreement without compliance with the term referred to in subsection (1) , the new operator is guilty of an offence.

Penalty:  Fine not exceeding 100 penalty units.