Queensland Numbered Acts

RETIREMENT VILLAGES AMENDMENT ACT 2006 No. 6 - SECT 26

Section 62--

omit, insert--

'(1) This section applies if the former resident's interest in the accommodation unit is a leasehold interest or licence.

'(2) If the former resident obtained the interest before the commencement of the 2006 Amendment Act, section 26, the cost of the labour and materials for the reinstatement work for the accommodation unit must be paid by--

(a) to the extent the reinstatement work is required because the former resident caused accelerated wear to the accommodation unit's interior or deliberate damage to the accommodation unit--the former resident; or

(b) to the extent the reinstatement work is otherwise required and if the residence contract states who is to make the payment--the person stated; or

(c) otherwise--

(i) for a residence contract other than an existing residence contract--the scheme operator; or

(ii) for an existing residence contract--the former resident and the scheme operator in the same proportion as they are to share the gross ingoing contribution on the sale of the right to reside, as provided for in the residence contract.

'(3) If the former resident obtained the interest on or after the commencement of the 2006 Amendment Act, section 26, the cost of the labour and materials for the reinstatement work for the accommodation unit must be paid by--

(a) to the extent the reinstatement work is required because the former resident caused accelerated wear to the accommodation unit's interior or deliberate damage to the accommodation unit--the former resident; or

(b) to the extent the reinstatement work is otherwise required and if the residence agreement provides that the former resident and the scheme operator are to share any capital gain on the sale of the former resident's interest in the accommodation unit--the former resident and the scheme operator in the same proportion that the capital gain is to be shared; or

(c) otherwise--the scheme operator.

'(4) If the scheme operator must pay the cost of reinstatement work, it must be paid out of the scheme operator's capital replacement fund.'.