Retirement villages prohibited persons policy
The new section 76 of the Act Retirement Villages Act 1992 (the Act) prohibits certain persons from being the administering body or being concerned, directly or indirectly, in the administration of a retirement village unless the person holds an exemption certificate granted by the Commissioner.
The purpose of the provisions is to protect the wellbeing and financial interests of residents i.e. to ensure that individuals concerned in the administration of a retirement village do not present a risk to the wellbeing and financial interests of the residents of the retirement village
The guidelines for applicants are intended to assist applicants by providing an overview of the process for considering an application for an exemption certificate in relation to these provisions. However, these guidelines are not a substitute for legal advice.
*A person should consider seeking legal advice if they have any doubt as to whether they are a prohibited person and are concerned, directly or indirectly, in the administration of a retirement village.
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