The Housing Legislation (Building Better Futures) Amendment Bill 2017 (the Bill), passed by the Queensland Parliament on 25 October 2017, received royal assent on 10 November 2017. While some of the changes to the Retirement Villages Act 1999 (Q) (RV Act) commenced on that date, the majority will not commence until a date yet to be fixed by proclamation.
In our previous two articles (Your guide to the major changes proposed to the Retirement Villages Act 1999 (Q) and Retirement Villages Act changes passed by Parliament), we summarised the proposed changes to the RV Act under the Bill, both as originally introduced and as passed by the Parliament.
The Bill has now received royal assent and has therefore become law. However, in relation to the RV Act, only two sets of provisions commenced operation on 10 November 2017, being:
In relation to the mandatory 18 month buy-back period, this means that:
The remaining provisions of the Bill affecting the RV Act will not commence until a date to be fixed by proclamation in the future.
If you wish to discuss this article or any other retirement village issues in more detail, please contact Stuart Lowe.
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