11Meaning of ingoing contribution

11 Meaning of ingoing contribution In this Act: ingoing contribution— (a) means— (i) an amount payable by or on behalf of a person to the operator of a retirement village under a residence contract; or (ii) any other amount paid by or on behalf of a person to the operator of a retirement village in consideration for, or in expectation of, the person or someone else becoming a resident of the village; but (b) does not include the following: (i) a waiting list fee; (ii) a recurrent charge;

(iii) if the resident is the registered proprietor of a lease, the owner of a unit in a units plan or the owner of a lot in a community title scheme where the residential premises are located—the purchase price of the land or lot; (iv) if the person owns shares in a company title scheme that give rise to a residence right in relation to the residential premises—the purchase price of the shares; (v) a payment prescribed by regulation.