New South Wales Consolidated Acts

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RETIREMENT VILLAGES ACT 1999 - SECT 101

Payment into maintenance fund

101 Payment into maintenance fund

There is to be paid into the maintenance fund by the operator:

(a) such proportion of recurrent charges as may be required by the statement of approved expenditure, and
(b) all money received by way of settlement or other discharge of insurance claims made in respect of any matter referred to in section 97 (3) (a) (i) or (ii) that is not used for the purposes of repairing damage or meeting costs incidental to the reinstatement or replacement of insured buildings.



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