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Retirement Villages Act 2003

Retirement Commissioner and statutory supervisors - Statutory supervisors

43: Powers of statutory supervisor

You could also call this:

"What the statutory supervisor can do to help you"

Illustration for Retirement Villages Act 2003

You have a statutory supervisor to help you. They check the retirement village's money, residents' security, and management. If they think something is wrong, they can tell the operator what to do. They can ask the operator to give residents information or to run the village in a certain way. You are protected by the statutory supervisor. They can stop the operator from advertising something that is not true or fair. They can also go to court to get an order under section 43A if needed.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM220889.

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Topics:
Housing and property > RentingMoney and consumer rights > Consumer protectionMoney and consumer rights > Savings and retirement
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42: Duties of statutory supervisor, or

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

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43A: Court may make orders, or

"The court can make decisions to help residents in a retirement village."

Part 3Retirement Commissioner and statutory supervisors
Statutory supervisors

43Powers of statutory supervisor

  1. If a statutory supervisor believes the financial position of the retirement village, the security of the interests of the residents, or the management of the retirement village is inadequate, the statutory supervisor may—

  2. direct the operator to supply all residents (or their nominated representatives) with the information that the statutory supervisor may specify; or
    1. direct the operator to operate the retirement village in a specified manner; or
      1. apply to the court for an order under section 43A.

        1. The statutory supervisor may direct that an advertisement that the statutory supervisor considers is inconsistent with this Act or regulations made under this Act, or the disclosure statement, occupation right agreement, or code of practice, not be published or distributed to the public.

        Notes
        • Section 43(1)(c): replaced, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).