New South Wales Consolidated Acts

RETIREMENT VILLAGES ACT 1999 - SECT 18

18 Disclosure statement concerning village

(1) The operator of a retirement village must provide a prospective resident (or a person acting on behalf of the prospective resident) with a disclosure statement in accordance with this section.

(2) A disclosure statement is a written statement containing detailed information concerning the village.

(3) The statement must:

(a) be in the form prescribed by the regulations, and

(b) contain the information required by that form, and

(c) be signed and dated by the operator.

(4) The operator of the retirement village must annex a copy of the statement (or the statement as amended in writing and endorsed with the consent of the other party to the village contract) to the first village contract that the other party enters into with the operator.

Maximum penalty: 10 penalty units.

(5) The operator of a retirement village must not enter into a village contract with a person earlier than 14 days after the person (or another person acting on behalf of that person) has been provided with a disclosure statement by the operator.

Maximum penalty: 100 penalty units.

(6) If the operator of a retirement village fails to comply with a request to provide a prospective resident with a disclosure statement, the person who made the request may apply to the Tribunal for (and the Tribunal may make) an order requiring the operator to provide the disclosure statement.