Fair Trading Act 1987 Regulation relating to the definition of retirement village (1991-659) [GG No 180 of 20.12.1991] (NSW)

1991—No. 659

FAIR TRADING ACT 1987—REGULATION

(Relating to the definition of “retirement village”)

NEW SOUTH WALES

[Published in Gazette No. 180 of 20 December 1991]

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the Fair Trading Act 1987, has been pleased to make the Regulation set forth hereunder.

PETER COLLINS

Minister for Consumer Affairs.

Commencement

1. This Regulation commences on 20th December, 1991.

Amendment

2. The Retirement Village Industry Code of Practice Regulation 1989 is amended by omitting paragraph (c) of the definition of “retirement village” in Schedule C and by inserting instead the following paragraph

and words:

(c) the ownership of residential premises subject to a right or option of repurchase or conditions restricting the subsequent disposal of the premises,

and for the right to occupy which those persons are or will be required to
pay or donate money;

1991—No. 659

EXPLANATORY NOTE

The object of this Regulation is to amend the definition of “retirement village”

in Schedule C to the Retirement Village Industry Code of Practice Regulation 1989:

(a) by rectifying the incorrect ranging of certain words which are meant to apply to the whole of the definition and not only to paragraph (c); and

(b) by omitting superfluous words.

The amended definition is consistent with the definition of “retirement village”

in the Retirement Villages Act 1989.