Royal assent given to Queensland retirement villages reform bill

1 min  10.11.2017
On Friday 10 November 2017 the Housing Legislation (Building Better Futures) Amendment Act 2017 (Qld) (Amendment Act) received royal assent.

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.

Contact

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https://www.minterellison.com/articles/royal-assent-given-to-queensland-retirement-villages-reform-bill

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