24Capital item—Act, s 135 (1), def capital item, par (a) (iv)

24 Capital item—Act, s 135 (1), def capital item, par (a) (iv) The following capital items in a retirement village, including those in residential premises in the village, are prescribed: (a) fixtures; (b) fittings; (c) furnishings; (d) non-fixed items. Examples—par (a) bench tops, built-in cupboards and wardrobes, floor coverings, hot water system, stove Examples—par (b) light fittings, taps, sanitary fittings Examples—par (c) curtains, blinds Examples—par (d) whitegoods, portable air conditioner, fan, tables, chairs 25 Works not capital maintenance—Act, s 135 (1), def capital maintenance, par (c) The following works are prescribed: (a) work done to substantially improve a capital item beyond its original condition; (b) work done to maintain or repair a capital item in circumstances where it would have been more cost effective to replace the capital item.

Part 6 Financial management Division 6.2 Recurrent charges Section 26 page 20 Retirement Villages Regulation 2013 Effective: 01/11/25 R12 01/11/25 Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au 26 Matters not to be funded from capital works fund or recurrent charges—Act, s 141 (3) (e) Work mentioned in section 25 is not authorised to be funded from the capital works fund or recurrent charges of a retirement village. 27 Capital works fund—Act, s 143 (4) If the operator of a retirement village is a property trust or other corporation constituted by an Act, money in the capital works fund for the village may be held in a fund administered by the property trust or corporation.