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Retirement Villages Act 2003

Retirement Commissioner and statutory supervisors - Statutory supervisors

42: Duties of statutory supervisor

You could also call this:

"What a statutory supervisor must do to help people in retirement villages"

Illustration for Retirement Villages Act 2003

You have a role as a statutory supervisor. You must provide a stakeholder facility for people who want to live in a retirement village and have paid deposits. You must also monitor the financial position of the retirement village. You have to report each year to the Registrar and residents about what you have done. You must do what section 29(1) says, for example, when it comes to providing a stakeholder facility. You also have to do other tasks that are part of this Act or other laws. This includes tasks in documents that say what your job is.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM220888.

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Part 3Retirement Commissioner and statutory supervisors
Statutory supervisors

42Duties of statutory supervisor

  1. A statutory supervisor must—

  2. provide a stakeholder facility (for example, under section 29(1)) for intending residents and residents who pay deposits or progress payments in respect of occupation right agreements or uncompleted residential units or facilities at the retirement village; and
    1. monitor the financial position of the retirement village; and
      1. report annually to the Registrar and residents on the performance of its duties and the exercise of its powers; and
        1. perform any other duties that are imposed by this Act or any other Act, any regulations made under this Act, and any documents of appointment.