Retirement Villages Act and Regulations
HUD is responsible for the Retirement Villages Act 2003. The Act and associated Regulations set out the rights and responsibilities of operators, residents and intending residents.
About the Act
The Retirement Villages Act 2003 (the Act) provides a legal definition of retirement villages that covers a range of operations.
The definition focuses on the substance of the village, rather than the form, documentation or the title granted to a resident.
The Act specifically states under section 6(5) that in determining whether a property is a retirement village, regard should be given to the nature, substance and economic effect of the operation of the property, independent of its form or description in any document.
Protecting residents' rights
The Act provides rights for people who live in or are considering entering a retirement village. It contains detailed provisions about residents’ rights:
- in the period before an intending resident enters a retirement village
- during their occupation, and
- after they leave.
Registering a retirement village
The Act places responsibilities on all retirement village operators and are detailed under the Financial Markets Supervisors Act 2011.
The requirements mean that every retirement village operator must:
- register each village with the Registrar of Retirement Villages
- provide the Registrar with annual returns, including audited financial statements
- appoint a statutory supervisor (unless exempted from doing so by the Registrar)
- comply with the Code of Residents' Rights
- provide a complaints facility and dispute resolution process for residents
- comply with a Code of Practice 2008 when it's in force.
Regulations connected to the Act
The following regulations accompany the Act and are also in force.
Copies can be purchased online from:
Retirement Villages (Crossdale Courts) Order 2008
This is a special regulation declaring the property known as Crossdale Courts to be a retirement village for the purposes of the Act.
Retirement Villages (Disputes Panel) Regulations 2006
The Disputes Panel Regulations contain information on the process for resolving disputes between residents and operators.
All retirement villages, as defined in Section 6 of the Act, need to operate, or provide access to, an internal complaints facility. Any disputes that can't be resolved at the village level can then be referred to the Disputes Panel set up under the Act.
Retirement Villages (Fees) Regulations 2006
The Retirement Villages Register sets out the fees for registering a retirement village, and filing an annual return.
The fees were reviewed in 2011.
Published: October 4, 2018