The objectives of these Regulations are to require an estate agent engaged or appointed to sell premises on behalf of an owner resident in a retirement village—
(a) to provide prescribed information to the owner resident in certain circumstances; and
(b) to include a prescribed statement in any advertisement for the sale of the premises.
2 Authorising provision
These Regulations are made under section 99 of the Estate Agents Act 1980.
3 Commencement
These Regulations come into operation on 31 July 2016.
4 Revocation
The Estate Agents (Retirement Villages) Regulations 2006[1] are revoked.
5 Definitions
In these Regulations—
owner resident has the same meaning as in the Retirement Villages Act 1986;
premises, in relation to an owner resident, has the same meaning as in the definition of owner resident in the Retirement Villages Act 1986.
6 Information to vendors of premises in retirement villages
(a) an estate agent agrees to enter into an engagement or appointment with an owner resident to sell the owner resident's premises in a retirement village; and
(b) the engagement or appointment allows the estate agent to charge a commission for selling the owner resident's premises, even if the sale is not completed because the purchaser does not enter into a contract for services with the manager of the retirement village.
(2) Before obtaining the signature of the owner resident to the engagement or appointment, the estate agent must—
(a) inform the owner resident in writing that the engagement or appointment provides for a commission to be payable to the estate agent, even if a sale of the premises cannot be completed because the purchaser does not enter into a contract for services with the manager of the retirement village; and
(b) include a reference in the information referred to in paragraph (a) to any clause of the engagement or appointment in which the commission arrangements are set out; and
(c) obtain the owner resident's dated signature on the page on which the information referred to in paragraphs (a) and (b) is given.
Penalty: 20 penalty units.
7 Advertisements for sale of premises in retirement villages
(1) An estate agent who holds a written engagement or appointment to sell premises in a retirement village must include the following statement in any advertisement in respect of the premises that is published or caused to be published—
"Buyer must also enter into separate contract with retirement village.".
Penalty: 20 penalty units.
(2) An estate agent to whom subregulation (1) applies must ensure that the statement is printed or typed—
(a) in plain text in point type no smaller than the smallest point type otherwise appearing in the advertisement; and
(b) in a form that is easily legible.
Penalty: 20 penalty units.
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Endnotes
1 General information
The Estate Agents (Retirement Villages) Regulations 2016, S.R. No. 86/2016 were made on 12 July 2016 by the Governor in Council under section 99 of the Estate Agents Act 1980, No. 9428/1980 and came into operation on 31 July 2016: regulation 3.
The Estate Agents (Retirement Villages) Regulations 2016 will sunset 10 years after the day of making on 12 July 2026 (see section 5 of the Subordinate Legislation Act 1994).
See www.legislation.vic.gov.au for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.
INTERPRETATION OF LEGISLATION ACT 1984 (ILA)
Style changes
Section 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.
References to ILA s. 39B
Sidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided regulation, rule or clause of a Schedule is amended by the insertion of one or more subregulations, subrules or subclauses the original regulation, rule or clause becomes subregulation, subrule or subclause (1) and is amended by the insertion of the expression "(1)" at the beginning of the original regulation, rule or clause.
Interpretation
As from 1 January 2001, amendments to section 36 of the ILA have the following effects:
• Headings
All headings included in a Statutory Rule which is made on or after
1 January 2001 form part of that Statutory Rule. Any heading inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.
This includes headings to Parts, Divisions or Subdivisions in a Schedule; Orders; Parts into which an Order is divided; clauses; regulations; rules; items; tables; columns; examples; diagrams; notes or forms.
See section 36(1A)(2A)(2B).
• Examples, diagrams or notes
All examples, diagrams or notes included in a Statutory Rule which is made on or after 1 January 2001 form part of that Statutory Rule. Any examples, diagrams or notes inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, form part of that Statutory Rule. See section 36(3A).
• Punctuation
All punctuation included in a Statutory Rule which is made on or after
1 January 2001 forms part of that Statutory Rule. Any punctuation inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.
See section 36(3B).
• Provision numbers
All provision numbers included in a Statutory Rule form part of that Statutory Rule, whether inserted in the Statutory Rule before, on or after
1 January 2001. Provision numbers include regulation numbers, rule numbers, subregulation numbers, subrule numbers, paragraphs and subparagraphs. See section 36(3C).
• Location of "legislative items"
A "legislative item" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of a Statutory Rule is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B.
• Other material
Any explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of a Statutory Rule. See section 36(3)(3D)(3E).
2 Table of Amendments
There are no amendments made to the Estate Agents (Retirement Villages) Regulations 2016 by statutory rules, subordinate instruments and Acts.
3 Amendments Not in Operation
There are no amendments which were Not in Operation at the date of this publication.
4 Explanatory details
Reg. 4: S.R. No. 100/2006.
——
Penalty Units
These Regulations provide for penalties by reference to penalty units within the meaning of section 110 of the Sentencing Act 1991. The amount of the penalty is to be calculated, in accordance with section 7 of the Monetary Units Act 2004, by multiplying the number of penalty units applicable by the value of a penalty unit.
The value of a penalty unit for the financial year commencing 1 July 2016 is $155.46.
The amount of the calculated penalty may be rounded to the nearest dollar.
The value of a penalty unit for future financial years is to be fixed by the Treasurer under section 5 of the Monetary Units Act 2004. The value of a penalty unit for a financial year must be published in the Government Gazette and a Victorian newspaper before 1 June in the preceding financial year. ↑