Queensland Numbered Acts

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RETIREMENT VILLAGES AMENDMENT ACT 2006 No. 6 - SECT 39

39 Amendment of s 98 (Amount of maintenance reserve fund)

(1) Section 98(5), 'subsection (4)'--

omit, insert--

'subsection (6)'.

(2) Section 98(6), 'subsection (3)'--

omit, insert--

'subsection (5)'.

(3) Section 98(2) and (3) to (6)--

renumber as section 98(3) and (5) to (8).

(4) Section 98--

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.'.

(5) Section 98--

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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