Northern Territory Consolidated Acts

RETIREMENT VILLAGES ACT - SECT 48

(1) A code shall be developed, implemented and administered having regard to -

(a) clarifying the rights and obligations of residents and the administering authorities of retirement villages;

(b) the need to ensure that persons entering into a residence contract are provided with all information necessary to make an informed decision regarding his or her future needs as a resident of the retirement village and of the circumstances in which the person may cease to be a resident; and

(c) where the residence contract imposes ongoing financial obligations on the residents of a retirement village to the administering authority in respect of the operation of the retirement village, the need to ensure that residents are provided with sufficient financial information and determinative rights in order to be able to participate in decisions concerning the matters for which there is an ongoing financial obligation.

(2) A code shall contain provisions relating to -

(a) the rights of residents of retirement villages to privacy;

(b) ensuring that residence contracts and documentation relating to retirement villages are clear, concise, complete and in plain language;

(c) the full disclosure of fees and financial information relating to retirement villages;

(d) the full disclosure of details concerning the title to retirement villages;

(e) the cooling off period to be provided in residence contracts;

(f) the full disclosure of all rights that the administering authorities have regarding the relocation of residents of retirement villages;

(g) the full disclosure of financial rights of residents following the ceasing (whether under a residence contract or this Act) of a resident's rights to reside in a retirement village;

(h) the management of retirement villages;

(j) the payment of money by residents of retirement villages to the administering authority and the management, banking and use of that money by the administering authority;

(k) the procedure for terminating residence contracts and for ensuring that residents are given adequate notice of and reasons for the proposed termination; and

(m) the resolution of disputes between residents of retirement villages and residents and administering authorities.