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RETIREMENT VILLAGES ACT 1999 - SECT 112 Quarterly financial statements

RETIREMENT VILLAGES ACT 1999 - SECT 112

Quarterly financial statements

112 Quarterly financial statements

(1) A resident may ask the scheme operator for a quarterly financial statement for—
(a) 1 or more completed quarters of the current financial year; or
(b) 1 or more quarters of the last 2 completed financial years.
(2) Within 28 days after receiving the request, the scheme operator must give the resident a quarterly financial statement for each quarter that—
(a) complies with section 113AA ; and
(b) without limiting paragraph (a) , shows the income for the quarter of, and expenditure for the quarter from—
(i) the capital replacement fund; and
(ii) the maintenance reserve fund; and
(iii) the general services charges fund; and
(c) either—
(i) has been audited; or
(ii) is in a form that is capable of being audited.
Penalty—
Maximum penalty—100 penalty units.
(3) This section does not prevent the scheme operator giving a resident a quarterly financial statement for a quarter other than a quarter mentioned in subsection (1) .