54Rescission of village contract on grounds relating to

54 Rescission of village contract on grounds relating to disclosure statement (a) a disclosure statement for residential premises in a retirement village is not given in accordance with this Act; or (b) the information in the statement is false or misleading in a material particular. (2) The person to whom (or on whose behalf) the disclosure statement was given or should have been given may, within 3 months after the day the residential premises in the retirement village are occupied, apply to the ACAT for an order allowing the person to rescind any village contract to which the person and the operator of the village are parties.

(3) The ACAT must not make an order under subsection (2) if it is satisfied that— (a) the disclosure statement was provided in accordance with this Act; or (b) the information in the disclosure statement is not false or misleading in a material particular; or (c) the operator acted reasonably and honestly and should be excused for the failure to provide accurate information, or to provide the disclosure statement in accordance with this Act; or (d) the person to whom (or on whose behalf) the disclosure statement was given or should have been given is in substantially as good a position as the person would have been had the failure not occurred. (4) If the ACAT makes an order under subsection (2)— (a) it may also order the operator to pay compensation to the applicant for the order; and (b) the applicant may, by written notice to the operator, rescind the