Victorian Consolidated Legislation

Retirement Villages Act 1986 - SECT 32

Extinguishment of charge

32. Extinguishment of charge



(1) A charge cannot be extinguished except-

   (a)  by an agreement in writing signed by all the residents whose
        refundable in-going contributions are secured by the charge; or

   (b)  by order of the Supreme Court under section 31; or

   (c)  upon the publication in the Government Gazette of a declaration in
        accordance with this section; or

   (d)  in accordance with section 47.





(2) An owner of retirement village land charged under this Part may apply to
the Director for a declaration that the charge is extinguished whether as to
the whole or as to a part of the land that is the subject of the charge.

(3) An application under subsection (2)-

   (a)  must be in writing;

   (b)  must include a statutory declaration signed by the owner and stating
        that-

   (i)  the land to which the application relates is no longer used as a
        retirement village; and

   (ii) the owner has served on all the residents informing them that the
        owner has applied for a declaration under this section, explaining the
        consequences of the making of the declaration and stating that they
        have a right to make submissions to the Director within 60 days after
        service of the notice; and

   (iii) the owner has no knowledge of any proceedings by a resident to obtain
        payment of a refundable in-going contribution or to enforce the
        charge; and

   (c)  must include a copy of the notice served on residents and mentioned in
        paragraph (b);



   (d)  if so required by the Director, must include any information that is
        reasonably necessary to establish the boundaries of the land to which
        the application relates and the use to which that land is put.

(4) Before determining whether to grant or refuse an application the Director
must consider all submissions lodged by residents within the 60 days.

(5) The Director may grant or refuse an application under this section.



(6) On an application made in accordance with this section and after
considering submissions in accordance with subsection (4) the Director may by
instrument published in the Government Gazette declare that a charge to which
an application relates is extinguished if the Director is satisfied that-

   (a)  the land to which the application relates is no longer used as a
        retirement village; and



   (b)  the owner has served all the residents notice in accordance with this
        section.

(7) If, in respect of land charged under this Part there is produced to the
Registrar of Titles-

   (a)  a copy of the Government Gazette in which the Director has published a
        declaration that the charge is extinguished (to the extent that it
        applies to the land that is the subject of an application under
        subsection (2) that has been granted), the Registrar may-

   (i)  delete any recordings of the charge (to the extent that the recordings
        apply to the land that is the subject of an application that has been
        granted) from the Register; or

   (ii) make a recording in the Register of the extinguishment of the charge
        (to the extent that the recording applies to the land that is the
        subject of an application that has been granted)- as the case
        requires; or

   (b)  an agreement in writing signed by all the residents whose refundable
        in-going contributions are secured by the charge to the effect that
        the charge is extinguished, the Registrar may-

   (i)  delete any recordings of the charge from the Register; or

   (ii) make a recording in the Register of the extinguishment of the charge-
        as the case requires; or





   (c)  a copy of the order of the Supreme Court to the effect that the charge
        is extinguished, the Registrar may-

   (i)  delete any recordings of the charge from the Register; or

   (ii) make a recording in the Register of the extinguishment of the charge-
        as the case requires.

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