RETIREMENT VILLAGES ACT 1999 - SECT 182AB Former occupant may apply for payment of exit entitlement

RETIREMENT VILLAGES ACT 1999 - SECT 182AB

182AB Former occupant may apply for payment of exit entitlement

(1) This section applies to a former occupant of residential premises in a retirement village who--

(a) is, or was, a registered interest holder in respect of the premises, and

(b) has not been paid any part of the former occupant's exit entitlement by way of an accommodation payment under section 182AG.

(2) However, this section applies to a former occupant who has been paid any part of the former occupant's exit entitlement by way of an accommodation payment under section 182AG only if the former occupant's residential premises have not sold within 2 years after the date on which the former occupant first entered the aged care facility to which the payment relates.

(3) A former occupant may, if the residential premises are not sold within the prescribed period, apply to the Secretary for an order directing the operator of the retirement village to pay the exit entitlement to the former occupant (an
"exit entitlement order" ).

(4) The prescribed period commences 40 days after the following, whichever occurs first--

(a) the date the former occupant's premises are first advertised for sale,

(b) the date the former occupant permanently vacates the premises, including by returning to the operator all keys to the premises,

(c) if the former occupant does not intend to move out of the premises while the premises are for sale--the date the former occupant gives written notice to the operator of that fact.

(5) Subsection (4) does not apply to a former occupant referred to in subsection (2).

(6) A former occupant may apply for an exit entitlement order only if the agreed valuation for the exit entitlement was calculated at least 30 days before making the application.

(7) An application is to be made in a form approved by the Secretary.

(8) A former occupant may not apply for an exit entitlement order for the same residential premises more than once in the prescribed period.

(9) In this section--


"prescribed period" means--

(a) the period prescribed by the regulations, or

(b) a longer period approved by the Secretary under section 182AE, or

(c) for a former occupant referred to in subsection (2)--2 years from the date on which the former occupant enters into an aged care facility after permanently vacating the residential premises.