Statutory Supervisor

The Retirement Villages Act 2003 requires that a village must appoint a Statutory Supervisor although it does allow for exceptions in special circumstances.
A deed of supervision is prepared between the operator and statutory supervisor.

For more detail on the role of the Statutory Supervisor go to the Retirement Villages Act, Part 3, Paragraphs 37-47 .

The Statutory Supervisor must

• provide a stakeholder facility for intending residents and residents who pay deposits or progress payments in respect of Occupation Rights Agreements or uncompleted residential units or facilities at the retirement village.

• monitor the financial position of the retirement village  
  

• report annually to the Registrar of retirement villages on the performance of its duties and the exercise of its powers.