The Retirement Villages Regulations - Division 2A Asset Management Plans - is specific, that in the course of preparing an asset management plan, an operator of a retirement village must provide an independent assessment to confirm they are compliant with their requirements, set out under the Act and Regulations.
The Retirement Villages Regulations 2017
Division 2A Asset Management Plans
26C Preparation of asset management plans
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- obtain the written opinion of the auditor or an independent qualified quantity surveyor as to whether the plan contains the matters specified in clauses 26D and 26F (an independent assessment), and
- attach the independent assessment to the proposed plan, and
- notify each resident of the retirement village that a copy of the proposed plan, including the attached independent assessment, can be inspected at all reasonable times at the village or at a place of business in New South Wales nominated by the operator in the notice, and
- have a copy of the proposed plan, including the attached independent assessment, available at the village or at a place of business in New South Wales for inspection at all reasonable times by a resident or prospective resident or a person acting on behalf of a resident or prospective resident.
- obtain the written opinion of the auditor or an independent qualified quantity surveyor as to whether the plan contains the matters specified in clauses 26D and 26F (an independent assessment), and
It is a mandatory requirement, that the operator MUST provide an independent assessment as to whether their asset management plan complies with the requirements set out under the Act and it's regulations.
