The Amendment Act includes substantial changes to the Retirement Villages Act 1999 (Qld) (RV Act). Most of the amendments will not commence until a future date, which has not yet been proclaimed. However, the following amendments to the RV Act commenced on 10 November 2017 (the date of assent):

• the introduction of an 18 month buy back period applying to new residence contracts and retrospectively to all existing residence contracts, with a limited exception for undue operator financial hardship;
• a requirement that the 18 month buy back provision be reviewed no later than 2 years after commencement, to determine the impact of the provision on residents, former residents, families of residents or former residents and operators; and
• new enforceable behavioural standards for operators, village staff and residents.

A detailed summary of all amendments to the RV Act and the relevant commencement dates for those amendments is available.

The government is also yet to release a range of 'approved forms' that are fundamental to the operation of a number of the key amendments, as well as new proposed regulations.

Retirement village operators will need to review and revise their current practices and documentation in light of the changes.