53Records and accounting

53 Records and accounting (1) The operator of a retirement village must make and keep for at least 2 years a record of all uncollected goods that the operator disposes of under section 52. (2) The operator must account to the former occupant (or to the executor or administrator of the former occupant’s estate) for the balance of the proceeds of the sale of the goods after the deduction of the reasonable costs of removing, storing and selling the goods. (3) However, if the operator does not have an address mentioned in section 52 (3), the balance of the proceeds must be dealt with as unclaimed amounts under the Unclaimed Money Act 1950, part 3 (Unclaimed amounts payable by companies).

Part 9 Prescribed rates of interest Section 54 page 36 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