Call for comments on further retirement village rule changes
Consumer Protection is calling for community and industry comment on further proposed changes to the legislation which regulate retirement villages in WA.
Drafts of a proposed new Code and changes to retirement villages’ regulations are available for viewing and comments are now invited.
The new Code and regulations includes reforms such as:
- Enhancing transparency through improved financial reporting about the operation of the village;
- Mandatory auditing of village accounts and the right of residents to collectively opt out of auditing for a financial year;
- Processes for determining how budget surpluses will be spent in the village;
- Residents’ rights in relation to the refurbishment of their unit when leaving;
- Voting by secret ballot and revised special resolution processes;
- Enabling residents to collectively vest the functions of a residents’ committee with an incorporated association;
- Requiring village managers to conduct effective consultation with residents; and
- Revised dispute resolution processes.
The Commissioner for Consumer Protection Anne Driscoll said the changes are designed to offer further protections for retirement village residents while providing clear guidelines to village management.
The revised Code and regulations can be viewed on the Consumer Protection website: www.commerce.wa.gov.au/consultations. Enquiries can be made by email: firstname.lastname@example.org or by phone 1300 30 40 54.
The deadline for comments and submissions close on Monday, 28 July 2014 at 5pm. The new Code and regulations are expected to come into force later this year.
END OF RELEASE
Media contact (Consumer Protection)
Share this page: