Page 1711 - Week 05 - Wednesday, 5 May 2010
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Trading (Retirement Villages Industry) Code of Practice 1999. Through examining the legislation of other jurisdictions and after extensive consultation, I identified the need to bring the ACT into line with other jurisdictions.
A considerable number of written and verbal submissions were received during the consultation process, giving valuable insight into the specific and important areas of concern. Issues of concern broadly fell under the following: information disclosure, financial management and dispute resolution.
It was clear that there was a need for comprehensive legislation to be enacted in the ACT to regulate the retirement village industry, which was, and is, growing in size, due to our changing demographics, and is being joined by interstate players formerly governed by the legislation in their state of origin.
My initial discussion paper made 31 recommendations and identified several key areas of concern under those broad headings that I mentioned previously. The primary issues that needed to be addressed were around the adequate disclosure of information, particularly at the time of choosing to move into retirement village living, improved financial management and disclosure of financial information, and clear and accessible processes for dispute resolution when problems arise.
It was also apparent that some people who chose to live in a retirement village had varied expectations, some of which may not have been met, and possibly will never be met. For instance, many people believed, when signing a contract to buy into or lease a retirement village home, that they were then automatically entitled to move, if and when the time came, to higher need care that the owner may also have on the same property or adjacent to it—that is, a hostel or nursing home.
Nursing homes and hostels are governed by commonwealth legislation, the Aged Care Act 1997, and a person residing in a retirement village who believes, or whose carers believe, they need to move to such an institution need to be separately assessed and approved for such care. The decision as to whether a person is moved to an aged-care residential facility owned and managed by the same provider as the retirement village is based on availability at the time and the suitability of the facility. There is no automatic right.
It was clear that full disclosure of information relevant to this significant lifestyle choice was necessary to ensure that such decisions were based on a solid understanding of what was to follow. There is a great deal to consider, as you can imagine, and matters can be very complex and even confusing to some. Critically, people need to make informed choices about their living arrangements at all stages of their adult life.
As members would be aware, the discussion paper was subsequently released for further community comment, and I was very pleased to receive substantial comment and feedback at that stage of the process. I would also note that my office still receives considerable requests from people living in retirement villages in the ACT relating to the issues that I have described above, who are anxiously anticipating the passing of this legislation, as well as interest in its progress by industry and peak bodies.
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