New South Wales Consolidated Regulations New South Wales Consolidated RegulationsIn addition to the matter required by section 112 (4) (a)-(d) of the Act, the notice accompanying a statement of proposed expenditure must contain the following statements:
(a) it is a requirement of section 112 of the Retirement Villages Act 1999 that the operator of the village supply each resident with a statement of proposed expenditure for the financial year of the village at least 60 days before the commencement of the financial year concerned,
(b) the statement may be cancelled and replaced by an amended statement,
(c) it is a requirement of section 114 of the Retirement Villages Act 1999 that the residents meet, within 30 days after receiving a request for consent to the statement, to consider and vote on the statement,
(d) it is a further requirement of that section that the residents advise the operator of whether or not they consent to the statement (and, if they do not consent, they must specify the item or items in the statement to which they object),
(e) if the operator is not advised one way or the other, the residents are taken to have refused consent,
(f) the Residents Committee (if there is such a Committee established in the village) may call the meeting required by section 114,
(g) the operator must provide such information in relation to the proposed expenditure as the Residents Committee (or, if there is no such Committee established in the village, any resident) reasonably requests for the purpose of deciding whether consent should be given to the statement,
(h) if the residents do not consent to the expenditure itemised in the statement, the operator or a resident may apply to the Tribunal for an order in respect of it,
(i) if the operator makes such an application and the Tribunal does not make an order that gives rise to a statement of approved expenditure before the start of the financial year concerned, the operator may expend the money received by way of recurrent charges to meet the reasonable and necessary costs of the village until the Tribunal makes the relevant order,
(j) in dealing with the application, the Tribunal may have regard to the reasonable cost of services provided (or proposed to be provided) in the village and the need for the services to be provided in the village,
(k) if the residents consent to the expenditure itemised in the statement, or the Tribunal orders that the expenditure is to be as itemised in the statement, the statement of proposed expenditure is taken to be a statement of approved expenditure,
(l) the operator must not expend money received by way of recurrent charges otherwise than in accordance (apart from minor variations) with the statement of approved expenditure.