57Relevant village information to be given to Secretary

57 Relevant village information to be given to Secretary

57 Relevant village information to be given to Secretary

(1) For the Act, section 197B(1)(a), the operator of a retirement village must give the information set out in Schedule 7 (relevant village information) to the Secretary in the form approved by the Secretary—

(a) when the village commences operation, and

(b) within 1 month after the end of each financial year.

Maximum penalty—

(a) for a corporation—100 penalty units, or

(b) otherwise—50 penalty units.

(2) If the relevant village information for a village specified in Schedule 7 changes, the operator must give the Secretary the updated information within 21 days after the operator becomes aware of the change.

Maximum penalty—

(a) for a corporation—100 penalty units, or

(b) otherwise—50 penalty units.