• improve consumer understanding of the retirement village product and price structure by way of advertising requirements, clarifying definitions in the legislation, and more accessible pricing information;
• improve the financial situation of departing residents, including a proposed time limit for the payment of exit entitlements, extending the cap on payment of recurrent charges to strata title residents, and addressing refurbishment obligations;
• introduce mandatory reserve funds in retirement villages to ensure provision is made for ongoing capital works;
• improve clarity and transparency around village operating budgets and the use of resident funds for capital works;
• impose certain standards for the conduct of operators and residents in retirement villages;
• establish a public online database of retirement villages to assist in the identification of villages covered by the legislation;
• introduce a new process to apply when significant changes are proposed to be made to a village,
• clarify how the RV Act applies where there are multiple sales contracts;
• clarify how the RV Act should apply to residential aged care facilities;

The consultation also sought feedback on a number of issues, including dispute resolution, the overlap between the RV Act and the Strata Titles Act 1985 (WA), building defects, insurance contracts, and the provision of private home care services in retirement villages.

• The four consultation papers were released as part of a broader consultation process to introduce reforms to the RV Act.
• The four Consultation Regulatory Impact Statements (CRIS) were released between August 2019 and July 2021.
• Submissions to the fourth consultation paper (CRIS 4) closed on 21 July 2021.
• The consultation papers form part of the Government’s regulatory impact assessment process. They set out issues, summarise policy considerations, identify options for addressing the issues and identify the main benefits and detriments of taking or not taking action.
• Together these CRISs are part of a broader consultation process on implementing recommendations made in the Statutory Review of Retirement Villages Legislation Final Report (2010) (Final Report) and considering other issues that have arisen since that time.

• Feedback from the community has also been obtained in other ways, including surveys, discussions and roundtables with peak bodies in the sector, engagement with other government agencies, and interested organisations.
• Consumer Protection has also engaged the WA Treasury Corporation to assess the financial impact of proposals to introduce a time limit for exit entitlements. The outcome of this process will inform recommendations to the WA Government.

• Consumer Protection is analysing all submissions it has received during the consultation process.
• This includes any additional matters and any alternate ways for dealing with an issue raised by stakeholders.
• Before the end of this year, Consumer Protection will make recommendations for regulatory change in a Decision Regulatory Impact Statement (DRIS) to Government on the reform proposals.
• If the Government decides to approve these, a draft Bill for introduction into Parliament will need to be prepared. Further consultation with stakeholders will occur during this process.

• All comments made by the community are being considered in Consumer Protection’s analysis and recommendations to Government.
• The comments of people who made submission help Government decide whether reforms are required, policy should change, and which particular proposals are likely to be effective.

• The Government is anticipated to make a decision on the DRIS recommendations in the first half of 2022.

• Consumer Protection issues regular bulletins to keep stakeholders informed and up-to-date. If you would like to be added to the stakeholder list please email us your email address.