Reg. 4 def. of owner inserted by S.R. No. 171/2013 reg. 6. owner includes a person who alone or with others is the owner of an estate other than an estate in fee simple; Reg. 4 def. of quarter inserted by S.R. No. 52/2009 reg. 6. quarter means a period of three months in any year that ends on 31 March, 30 June, 30 September or 31 December; Reg. 4 def. of relevant financial year inserted by S.R. No. 52/2009 reg. 6. relevant financial year means in respect of a retirement village, a period that consists of 12 consecutive months, that commences on the date fixed by the manager of the retirement village and ends on the date fixed by the manager of the retirement village; the Act means the Retirement Villages Act 1986; and the Aged Care Act means the Aged Care Act 1997 of the Commonwealth. 5 Condition for refund of in-going contribution to a non-owner resident r. 5 (1) Where the clauses in Schedule 1 have been inserted into a residence contract with a resident, it is a condition for the purposes of section 26(2)(c) of the Act that the non-owner resident or the non-owner resident's legal representative is entitled to recover the amount refundable under section 26(1) of the Act— (a) if payment is made by another person under a residence contract in respect of the premises of the non-owner resident, that is at least the equivalent of the amount owed to the non-owner resident after the non-owner resident has delivered up vacant possession of the premises, on a day not more than
7 The parties agree that— (a) if the resident is entitled under this contract to a proportion of any amount by which the in-going contribution paid by the resident is exceeded by the next in-going contribution paid in respect of the premises, the resident is liable for the costs of a valuation under clause (6) in the same proportion; and (b) the owner is liable for any costs of a valuation under clause (6) for which the resident is not liable under subclause (a). 8 In clauses 1–7 and this clause— Australian Statistician has the same meaning as it has in the Australian Bureau of Statistics Act 1975 of the Commonwealth; CPI means the All Groups Consumer Price Index number (for ) published by the Australian Statistician; and Sch. 4 Victorian Division of the Australian Property Institute means the division of the association registered as the Australian Property Institute under the Associations Incorporation Act 1985 of managing the association's business in . __________________ Sch. 5 inserted by S.R. No. 171/2013 reg. 8. SCHEDULE 5 Sch. 5 PART A Regulation 8E(1)
share in any capital gain] not to be liable for fair wear and tear to the resident's premises. General (a) These prescribed terms, and any other terms prescribed under the Retirement Villages Act 1986 or regulations, take precedence over any inconsistent terms of this contract or any inconsistent by-laws relating to the village. (b) [names or abbreviations of owner and manager] and the resident must deal with each other in good faith. MATTERS REQUIRED BY REGULATION 8C OF THE RETIREMENT VILLAGES (CONTRACTUAL ARRANGEMENTS) REGULATIONS 2006 TO BE ADDRESSED The owner Costs payable on entry [refer to regulation 8C(1)(b)(x)] Costs payable during residency [refer to regulation 8C(1)(b)(xi)] Costs payable on departure [refer to regulation 8C(1)(b)(xii)] Owner's legal costs [refer to regulation 8C(1)(b)(ix)] Costs of renovation or reinstatement [refer to regulation 8C(1)(b)(xvii)] Resident's exit entitlement [refer to regulation 8C(1)(b)(xiii) and (xiv)] Maintenance of the resident's premises [refer to regulation 8C(1)(b)(xvi)] Village insurance [refer to regulation 8C(1)(b)(xv)] Any restrictions relating to the resident's premises [refer to regulation 8C(1)(b)(i)–(viii)] The manager Costs payable during residency [refer to regulation 8C(2)(b)(iii)] Manager's legal costs [refer to regulation 8C(2)(b)(ii)] Adjustments to maintenance charges [refer to regulation 8C(2)(b)(v)] Use of maintenance charges [refer to regulation 8C(2)(b)(iv)] The repair and maintenance procedure [refer to regulation 8C(2)(b)(vi)] Consultation on changes to services [refer to regulation 8C(2)(b)(xiv)] Special levies [refer regulation 8C(2)(b)(vii)] Resident's exit entitlement [refer to regulation 8C(2)(b)(viii) and (ix)] Village insurance [refer to regulation 8C(2)(b)(x)]