Victorian Numbered Regulations

RETIREMENT VILLAGES (CONTRACTUAL ARRANGEMENTS) REGULATIONS 2006 (SR NO 99 OF 2006) - REG 8

r. 8

Where–

        (a)     it is a condition of a residence contract entered into with a non-owner resident that—

              (i)     the amount of the in-going contribution is determined with reference to factors other than or in addition to the market value of the residence right; and

              (ii)     the amount of the in-going contribution is accordingly less than the market value of the residence right; and

        (b)     the residence contract provides for a refundable in-going contribution to be calculated with reference to the amount that will be paid as an in-going contribution by the next resident of the subject premises—

the clauses set out in Schedule 4 are incorporated into the residence contract.