(1) A person to whom this section applies must not:(a) be an operator of a retirement village, or(b) be involved in the promotion or sale of residence rights in a retirement village, or(c) be in any way (whether directly or indirectly) concerned, or take part, in the management or control of a retirement village.
Maximum penalty: 100 penalty units.(2) This section applies to the following persons:(a) a person who is insolvent under administration,(b) a person who is a director of an externally-administered body corporate,(c) a person who was a director of a company that has been wound up (otherwise than voluntarily),(d) a person who has been convicted (in New South Wales or elsewhere) of an offence involving:(i) physical violence to another person, or(ii) fraud or dishonesty, being an offence punishable on conviction by imprisonment for a period of not less than 3 months.(3) However, this section applies:(a) to a person referred to in subsection (2) (c)—only for the period of 5 years immediately following the winding-up, and(b) to a person referred to in subsection (2) (d)—only for the period of 5 years following the conviction (or, if the person was sentenced to imprisonment, within the period of 5 years following the person’s release).(4) In this section, externally-administered body corporate and insolvent under administration have the same meanings as they have in the Corporations Act 2001 of the Commonwealth.