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Retirement Villages Act 2003

Registrar of Retirement Villages, code of practice, and miscellaneous matters - Validation of fees

107: Acts not to apply

You could also call this:

"Some laws don't apply to retirement villages, like rules about money and renting homes."

Illustration for Retirement Villages Act 2003

You do not have to follow some laws when it comes to retirement villages. These laws are Parts 3 and 4 of the Financial Markets Conduct Act 2013 and the Residential Tenancies Act 1986. They do not apply to things like offering someone a place to live in a retirement village or agreements about living in a retirement village. You still have to follow these laws if someone is offering financial products in a retirement village. This is unless the financial product is part of an agreement about living in the village. The laws also still apply if someone who already lives in the village is offered financial products and they do not have to buy them as part of their living agreement.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM220978.

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Part 5Registrar of Retirement Villages, code of practice, and miscellaneous matters
Validation of fees

107Acts not to apply

  1. Neither Parts 3 and 4 of the Financial Markets Conduct Act 2013 nor the Residential Tenancies Act 1986—

  2. applies to—
    1. any offer of occupation; or
      1. any occupation right agreement; or
        1. any advertisement for occupation of a retirement village; or
        2. applies to any rights or obligations on a resident or operator of a retirement village acting in that capacity.

          1. Subsection (1) does not exempt any person from the application of any provision of Parts 3 and 4 of the Financial Markets Conduct Act 2013—

          2. in relation to the offer of any financial products (other than a financial product arising out of a matter referred to in subsection (1)(a))—
            1. in the retirement village; or
              1. by any operator of a retirement village; or
              2. in relation to an offer of financial products to any person who is already a resident and who is not obliged to acquire the products by an occupation right agreement.

                Notes
                • Section 107(1): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
                • Section 107(2): replaced, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).