New South Wales Consolidated Regulations

RETIREMENT VILLAGES REGULATION 2000 - REG 17

17 Notice of variation of recurrent charges by fixed formula: section 105

(1) A notice of variation of recurrent charges given under section 105 of the Act must include, in addition to the matter required by section 105 (2) (a) and (b), the following:

(a) the name of the resident and the address of the residential premises concerned,

(b) the fixed formula set out in the contract and a demonstration, by an application of the formula, of the way in which the new recurrent charges have been calculated,

(c) the following statements:

(i) it is a requirement of section 105 of the Retirement Villages Act 1999 that the operator of a retirement village give a resident of the village whose village contract provides that recurrent charges are to be varied according to a fixed formula at least 14 days’ written notice of the variation concerned,

(ii) the resident is not required to pay any increase in his or her recurrent charges until notice of the increase is given as required by that section,

(iii) the resident may apply to the Tribunal for an order directing the refund of overpaid recurrent charges on the grounds that an increase in the charges came into effect otherwise than in accordance with Division 4 of Part 7 of the Retirement Villages Act 1999 (which includes section 105),

(iv) any application for such an order must be lodged no later than 12 months after the increase came into effect.

(2) The notice:

(a) must be dated, and

(b) must be signed by the operator (or an agent or employee of the operator) of the retirement village.