Victorian Consolidated Legislation

Retirement Villages Act 1986 - SECT 30

Refunds

30. Refunds



(1) A person who enters into a contract with a resident which purports to
create in the resident a right to recover a refundable in-going contribution
but which does not provide for the recovery of that contribution from the
owner is guilty of an offence.

Penalty: 50 penalty units.

(2) If an owner enters into a contract with a resident and the contract
creates in the resident a right to recover from the owner a refundable
in-going contribution the contract is to be regarded as having been entered
into by all the persons who thereafter become owners of the land.

(3) If a resident has entered into a contract in respect of which there has
been a contravention of subsection (1) the resident may rescind all residence
contracts entered into by the resident and relating to the retirement village.