Review of the Retirement Villages Act 1999

  • Overview

The Retirement Villages Act 1999 was reviewed with the aim of ensuring that the legislation protecting the rights of everyone involved in the industry is both fair and balanced.

In late 2012, the Transport, Housing and Local Government Committee of the Parliament produced report No. 13 Review of the Retirement Village Act 1999 and throughout 2013, a Ministerial working party of key industry representatives met to discuss the report, before proposing a series of regulatory changes to best address the Committee recommendations.

Four critical issues covered by the proposals of the working party are discussed in this Regulatory Impact Statement (RIS) including: village closure; best practice standards for managing behaviour between persons at a village; scheme operators offering alternative financial models; early payout of a resident’s exit entitlement; and other issues considered by the Parliamentary Committee and the Ministerial working party during the review of the Retirement Villages Act 1999.

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