Queensland Numbered Acts

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RETIREMENT VILLAGES AMENDMENT ACT 2006 No. 6 - SECT 37

37 Amendment of s 92 (Amount of capital replacement fund)

(1) Section 92(5), 'subsection (3)'--

omit, insert--

'subsection (5)'.

(2) Section 92(2) and (3) to (5)--

renumber as section 92(3) and (5) to (7).

(3) Section 92--

insert--

'(2) For subsection (1), the report must be--

(a) a full report--
(i) in the 2009 financial year and in every 3rd financial year after that; and
(ii) in any other financial year in which substantial changes have been made to the retirement village; and
(b) an updated report in every financial year in which a full report need not be obtained.'.

(4) Section 92--

insert--

'(4) In having regard to the quantity surveyor's report, the scheme operator must use the scheme operator's best endeavours to implement the surveyor's recommendations in the context of--

(a) the objects of this Act; and
(b) any circumstances relevant to the retirement village that apparently were not considered by the quantity surveyor.'.


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