10Representations in promotional material—the Act, s 17

10 Representations in promotional material—the Act, s 17

10 Representations in promotional material—the Act, s 17

(1) For the Act, section 17(5A), the following representations about a retirement village are prescribed—

(a) a representation that a person is likely to make a capital gain when vacating the village,

(b) a representation about variations to future recurrent charges, unless the village contract provides that recurrent charges must be varied in accordance with a fixed formula,

(c) a representation about the future size of the village, except in relation to development where, at the time the representation is made—

(i) construction is underway, and

(ii) the completion date is known,

(d) a representation about the future ownership of the village, except if—

(i) a contract to transfer ownership of the village has been entered into, and

(ii) the representation is made by giving details of the contract,

(e) a representation that the village is an approved provider of residential care,

(f) a representation that the residents of the village have priority access to residential care by an approved provider.

(2) In this section—

approved provider means a person approved under the Aged Care Quality and Safety Commission Act 2018 of the Commonwealth, section 63D to provide aged care.

residential care means residential care under the Aged Care Act 1997 of the Commonwealth.

Note—

Schedule 9 includes rules about representations in promotional material.