New Zealand Legislation: Regulations

10 Exemptions do not apply to retirement villages

• Nothing in this notice applies to—

  • (a) a debt security that secures the security holder's right to repayment of any sum that is—

    • (i) paid for the security holder's right to accommodation and services in respect of a retirement village to which the debt security relates; and

    • (ii) that is repayable to the security holder as a result of the termination of that right to accommodation and services:

  • (b) a participatory security that confers on the security holder the right to accommodation and services in respect of a retirement village to which the participatory security relates.