Retirement Villages (Asset Management Plans and Exit Entitlements) Amendment Regulation 2021

Following extensive advocacy from the Property Council of Australia and the NSW Retirement Living Committee, the NSW Government has published important amendments to the regulation governing Asset Management Plans and Exit Entitlements for Retirement Villages. 

The NSW Retirement Living Committee has secured important concessions from the Government and has made strong arguments backed by evidence that the previous regulation would introduce a significant new compliance burden. 

New guidelines have also been published in relation to the redrafted regulation and Asset Management Plans. 

These new guidelines reflect the changes in the redrafted regulation and will be very important in the preparation of plans going forward. You can access these new guidelines here and can find them on pages 15-39.