34Increase in recurrent charges after former occupant’s liability to pay ceases—the Act, s 152

34 Increase in recurrent charges after former occupant’s liability to pay ceases—the Act, s 152

34 Increase in recurrent charges after former occupant’s liability to pay ceases—the Act, s 152

(1) For the Act, section 152(3), recurrent charges may be increased if—

(a) the increase is part of the approved annual budget for the financial year immediately following the financial year in which the former occupant’s liability ceased, and

(b) the approved annual budget specifies—

(i) the way the increase was calculated, including the total number of former occupants whose liability to pay recurrent charges ceased in the financial year, and

(ii) that the increase occurred in accordance with this section.

(2) To avoid doubt, the Act, Part 7, Division 4 applies to an increase in the recurrent charges payable by residents of a retirement village under this section.