226Buyer and operator to enter contract

226 Buyer and operator to enter contract (1) This section applies if the seller of residential premises in a retirement village is not the operator of the village. (2) The seller must give the operator of the village sufficient notice of the proposed sale to enable the operator to give the buyer a disclosure statement and the information required under section 28 (Information to be given to prospective residents) at least 14 days before the contract is entered into. (3) The contract is taken to include a provision to the effect that the contract is conditional on the buyer entering into a service contract with the operator on or before completion of the purchase. (4) As soon as practicable after the contract for the sale of the premises is entered into, the seller must give the operator written notice of that fact. (5) If the operator decides not to enter into a service contract with the buyer, the operator must, not more than 14 days after being notified under subsection (4)— (a) give the seller written notice of the decision and the reasons for it; and (b) apply to the ACAT for an order declaring that the operator is not obliged to enter into the service contract.