(1) An
"ingoing contribution" is the amount payable by a person under a residence
contract to secure the person’s, or someone else’s, right to reside in a
retirement village, but does not include a recurrent payment for rent, fees or
charges.
(2) It is immaterial whether—
(a) the right to reside in the
village is enforceable or not; or
(b) the payment alone secures the right, or
something else is also required to secure it.
