12Repayment of ingoing contribution

12 Repayment of ingoing contribution

Where a resident dies or vacates his or her residential premises in a retirement village, the operator must –

(a) refund to the resident or the resident's personal representative any amount to which the resident is entitled within –

(i) 6 months after the resident dies, or any extended period granted by the Director under section 13 ; or

(ii) 6 months after the operator or resident receives notice of termination of the residence contract, or any extended period granted by the Director under section 13 ; or

(iii) 30 days after the resale or reoccupation of the resident's residential premises –

whichever first occurs; and

(b) take all reasonable steps for resale or reoccupation of the residential premises.

Penalty:  Fine not exceeding 350 penalty units.