RETIREMENT VILLAGES ACT 1986 - SECT 9 Owner to lodge retirement village notice

RETIREMENT VILLAGES ACT 1986 - SECT 9

S. 9(1) amended by Nos 85/1998 s. 24(Sch. item 52.2), 4/2005 s. 4(a).

    (1)     If after the commencement of this section land is used or proposed to be used as retirement village land the owner must before entering into a contract which creates or gives rise to a residence right in the land or inviting other persons to make applications, offers or proposals to enter into such a contract lodge a notice with the Registrar of Titles.

S. 9(1)(a)(b) repealed by No. 85/1998 s. 24(Sch. item 52.2).

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Penalty:     200 penalty units.

S. 9(2) repealed by No. 85/1998 s. 24(Sch. item 52.3).

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S. 9(3) amended by No. 4/2005 s. 4(b)(i).

    (3)     A notice under subsection (1)—

S. 9(3)(a) substituted by No. 4/2005 s. 4(b)(ii).

        (a)     must contain the prescribed information;

        (b)     must contain—

              (i)     a description of the land to which the notice relates; and

              (ii)     a statement that this Act applies to that land;

S. 9(3)(c) amended by No. 85/1998 s. 24(Sch. item 52.4).

        (c)     if it relates to land in an identified folio under the Transfer of Land Act 1958 or land not under the operation of the Transfer of Land Act 1958 , must also contain the name and description of the owner of the land appearing from an instrument affecting the land last registered under the Property Law Act 1958 .

S. 9(4)

amended by No. 85/1998 s. 24(Sch. item 52.5).

    (4)     Before lodging a retirement village notice with the Registrar of Titles the owner of retirement village land to which the notice relates must—

        (a)     obtain release from or discharge of, all encumbrances which would take priority to any residence right which the owner may subsequently create, except those encumbrances mentioned in section 42(2) of the Transfer of Land Act 1958 ; or

        (b)     enter into an agreement with the holders of all encumbrances which would otherwise take priority to any residence right which the owner might subsequently create to the effect that the residence right will have first priority.

Penalty:     50 penalty units.

    (5)     Subsection (4) does not apply to a retirement village in respect of which an owner entered into a contract before the commencement of this section which created or gave rise to a residence right.

S. 10

repealed by No. 85/1998 s. 24(Sch. item 52.6).

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S. 11 amended by No. 18/1989 s. 13(Sch. 2 item 72(a)), substituted by No. 85/1998 s. 24(Sch. item 52.7).