32Extinguishment 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

S. 32(1)(c) amended by No. 4/2005 s. 9(1)(a).

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

S. 32(1)(d) inserted by No. 4/2005 s. 9(1)(b).

(d) in accordance with section 47.

S. 32(2) amended by Nos 17/1999 s. 43(4), 4/2005 s. 9(2).

(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—

S. 32(3)(b)(i) amended by No. 4/2005 s. 9(3)(a).

S. 32(3)(b)(ii) amended by No. 17/1999 s. 43(5).

(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

S. 32(3)(c) amended by No. 4/2005 s. 9(3)(b).

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

S. 32(3)(d) inserted by No. 4/2005 s. 9(3)(c).

(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.

S. 32(4) amended by No. 17/1999 s. 43(4).

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

S. 32(5) amended by No. 17/1999 s. 43(4).

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

S. 32(6) amended by No. 17/1999 s. 43(4).

(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—