Retirement Villages (Contractual Arrangements) Regulations

Consumer Affairs Victoria has released a Regulatory Impact Statement (RIS) for the Retirement Villages (Contractual Arrangements) Regulations 2006 (the Regulations) which are set to expire later this year.

The RIS presents a discussion of the key issues for updating the Regulations, and proposes 3 options for remaking a form of the aged care rule that takes into account changes to the Aged Care Act 1997.

The Property Council has engaged extensively with CAV to address the increasing financial stress being incurred by retirement village operators because of the aged care rule.  With the assistance of our Retirement Living Committee, we have developed a response to the RIS which calls for replacing the current aged care rule with a DAP rule for new and existing non-owner residents who have entered retirement villages after 31 July 2006. For more details on the Property Council’s response, please contact Sandra Qian, Senior Policy Advisor on 03 96 8300.