RETIREMENT VILLAGES ACT 1999 - SECT 131 Annual meeting

RETIREMENT VILLAGES ACT 1999 - SECT 131

131 Annual meeting

(1) In each year, a scheme operator must call an annual meeting of the residents of the retirement village as soon as reasonably practicable after the annual financial statement and audit report mentioned in section 113 are available.

Penalty—

Maximum penalty—100 penalty units.

(2) However, the scheme operator must give each resident at least 21 days written notice of the meeting.

(3) The annual meeting may not be held simultaneously with a meeting that must be held under another Act.

Example—

The meeting may not be held simultaneously with a meeting that is required under the Body Corporate and Community Management Act 1997 .

(4) The scheme operator must present the statement and report to the meeting.

Penalty—

Maximum penalty for subsection (4) —100 penalty units.