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RETIREMENT VILLAGES ACT 1999 - SECT 102A General services charge budget

RETIREMENT VILLAGES ACT 1999 - SECT 102A

General services charge budget

102A General services charge budget

(1) The scheme operator must, for each financial year, adopt a budget (the
"general services charge budget" ), that complies with subsection (2) and section 113AA , for the general services charges fund.
Penalty—
Maximum penalty—200 penalty units.
(2) The general services charge budget must—
(a) allow for raising a reasonable amount to provide the general services for the financial year; and
(b) fix the amount to be raised by way of contribution to cover the amount.
(3) At the end of a financial year for which a general services charge budget is adopted, any surplus or deficit in the fund must be carried forward and taken into account in adopting the general services charge budget for the next financial year.
(4) The scheme operator must fix the total general services charge mentioned in section 106 (1) after the scheme operator complies with subsection (3) .