Section 41AA of the Retirement Villages Act 1986 prohibits a person from promoting or selling rights to occupy premises in a retirement village, or from taking part in or being concerned in a village’s management in any way, directly or indirectly, if they:
- are an insolvent under administration; or
- have been convicted of an offence involving fraud or dishonesty in the last 5 years (or finished a sentence of imprisonment for a dishonesty offence in the last 5 years).
A dishonesty offence is an offence involving fraud or dishonesty punishable on conviction by imprisonment for more than 3 months, whether the conviction is in or outside Victoria.
It is an offence to breach these requirements and penalties apply.