11General inquiry document and disclosure
statement
(1)
For the purposes of section 18(2)(a) and (b) of
the Act, a general inquiry document must—
(a)
be in the form, and contain the information, set
out in Schedule 1, Part 1, and
(b)
contain a copy of the village rules,
and
(c)
contain a copy of the document Moving into a retirement
village? prepared by the Department and published on a
website of the Department.
(2)
For the purposes of section 18(3A)(a) and (b) of
the Act, a disclosure statement must—
(a)
be in the form, and contain the information, set
out in Schedule 1, Part 2, and
(b)
contain a copy of the village
rules.
(3)
A disclosure statement provided to a prospective
resident before 1 March 2018 is not required to include the average resident
comparison figure.
(4)
For the purpose of the form of a disclosure
statement, average resident
comparison figure means the monthly average of the sum of
the following amounts over a period of 84 months—
(a)
the total amount of recurrent charges payable
under the village contract,
(b)
the departure fee payable by the resident if the
premises are permanently vacated at the end of that
period,
(c)
capital gains, if any, payable to the operator by
the resident at the end of that period.
(5)
The calculation of any amount in the disclosure
statement relating to the future value of the property or the entry payment
payable by the next resident (however described) is to be determined by
varying the outgoing resident’s entry payment in accordance with the
average annual change in the March quarterly variation for the preceding 10
years, of whichever of the following indices published by the Australian
Bureau of Statistics is applicable to the location of the
premises—
(a)
Median Price of Established House Transfers
(unstratified); Sydney index,
(b)
Median Price of Established House Transfers
(unstratified); Rest of NSW index,
(c)
Median Price of Attached Dwelling Transfers
(unstratified); Sydney index,
(d)
Median Price of Attached Dwelling Transfers
(unstratified); Rest of NSW index.
(6)
In this clause—
Department means the
Department of Customer Service.
cl 11: Am 2021 (23),
Sch 1[1] [2].