37Asset register

37 Asset register

37 Asset register

(1) The operator of a retirement village must keep a register (an asset register) of the major items of capital for the village.

(2) An asset register must include the following details for each major item of capital—

(a) a brief description of the item,

(b) the purchase price,

(c) the date of purchase,

(d) the remaining effective life of the item,

(e) the asset ID number of the item,

(f) for a shared item of capital—the name of each other retirement village or aged care facility that uses the item.

(3) An asset register must be regularly reviewed and updated, including by recording each new major item of capital within 21 days after purchase.