241Application—pt 11

241 Application—pt 11 (1) This part applies to a village contract if— (a) a resident of the village under the contract has paid an ingoing contribution under the contract that includes a provision that entitles the resident to a refund of the whole, or any part, of the ingoing contribution; and (b) the refund is more than the amount prescribed by regulation. (2) However, this part does not apply to a village contract if the resident is a registered interest holder.