Oceania Healthcare Supports Proposed Changes to Retirement Villages Act 2003

MT Newswires Live

Dec 04

Oceania Healthcare (ASX:OCA) said that the proposed changes to the Retirement Villages Act provide clarity and certainty to residents, their families, and the operators of retirement villages, according to a Thursday Australian bourse filing.

The company said that it already operates within the parameters proposed by the government.

Oceania added that it buys back villas, apartments, and care suites within 12 months and pays interest to residents from the six-month mark and does not charge fees or accrue any deferred management fee from the time of vacant possession.

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