(a) to promote consumer protection and
fair trading practices in operating retirement villages and in supplying
services to residents by—
(i) declaring particular rights and obligations of
residents and scheme operators; and
(ii) facilitating the disclosure of
information to prospective residents of a retirement village to ensure the
rights and obligations of the residents and scheme operator may be easily
understood; and
(b) to encourage the continued growth and viability of the
retirement village industry in the State.
(2) The following are also objects
of this Act—
(a) to maintain public confidence in the retirement village
industry by enhancing—
(i) the financial transparency of the operations of
retirement villages; and
(ii) the accountability of scheme operators;
(b) to
encourage the adoption of best practice standards by the retirement village
industry;
(c) to provide a clear regulatory framework to ensure certainty for
the retirement village industry in planning for future expansion;
(d) to
facilitate participation by residents, who want to be involved, in the affairs
of retirement villages;
(e) to provide for processes for resolving disputes
between residents and scheme operators.