12Meaning of registered interest holder and registered long-

12 Meaning of registered interest holder and registered long- term sublessee registered interest holder—a person is a registered interest holder in relation to residential premises in a retirement village if— (a) the person— (i) is 1 of the following: (A) the registered proprietor of land in the retirement (B) the owner of a unit in a units plan in the retirement (C) the owner of a lot in a community title scheme in the (ii) has a residence right in relation to residential premises in the retirement village; or (b) the person owns shares in a company title scheme that give rise to a residence right in relation to residential premises in the retirement village; or

(c) the person is a registered long-term sublessee. registered long-term sublessee, of residential premises in a retirement village, means a person whose residence contract is in the form of a registered long-term sublease if— (a) the sublease includes a provision that entitles the person to at least 50% of any capital gain; or (b) the person is otherwise entitled under a contract, an agreement or other arrangement to at least 50% of any capital gain. registered long-term sublease means a sublease (however described) registered under the Land Titles Act 1925 that— (a) has a term of at least 50 years (including any option to renew); or (b) is for the life of the lessee.