Victorian Numbered Regulations

RETIREMENT VILLAGES (RECORDS AND NOTICES) (AMENDMENT) REGULATIONS 2006 (SR NO 93 OF 2006) - REG 7

    After regulation 7 of the Principal Regulations insert —

        '8.     Retirement village notice

For the purposes of section 9(3)(a) of the Act, the prescribed information which a notice under section 9(1) of the Act must contain is the information in Part A of Schedule 2.

        9.     Form of disclosure statement

The disclosure statement required by section 19 of the Act must be in the form of the certificate in Part B of Schedule 2.

        10.     Residence documents

    (1)     For the purposes of the definition of "residence documents" in section 3(1) of the Act, a document which—

        (a)     has the effect; or

        (b)     when executed will have the effect—

of giving to a person a right to purchase a residence right relating to a retirement village from a resident of a retirement village is, in relation to that residence right, a prescribed document.

    (2)     In sub-regulation (1), a right of purchase includes—

        (a)     an option to purchase; and

        (b)     any right of purchase which is conditional, contingent or prospective, however expressed.

        11.     List of important information for prospective residents

For the purposes of paragraph (f) of the definition of "residence documents" in section 3(1) of the Act, the list of information required under section 19 of the Act must be in the form of the list set out in Part C of Schedule 2.'.