RETIREMENT VILLAGES AMENDMENT ACT 2006 No. 6 - SECT 27 27 Amendment of s 63 (When former resident's exit entitlement payable)

Queensland Numbered Acts

27 Amendment of s 63 (When former resident's exit entitlement payable)

(1) Section 63(1)(b)--

omit, insert--

'(b) 14 days after the settlement day.'.

(2) Section 63(2), 'right to reside is sold'--

omit, insert--

'settlement day'.

(3) Section 63(3), penalty, 'for subsection (3)'--

omit.

(4) Section 63--

insert--

'(4) In this section--

settlement day means the day on which the sale of the right to reside, to a new resident or the scheme operator, is settled.'.