30   Capital works fund

(1)  For the purposes of section 99 (3) of the Act, if the operator of a retirement village is a property trust or other corporation constituted by an Act, money in the capital works fund for the village may be held in any fund administered by the property trust or corporation concerned.

(2)  For the purposes of section 99 (5) (c) of the Act, the operator of a retirement village may use money from the capital works fund for any purpose (other than a purpose set out in section 99 (5) (a) or (b) of the Act) but only if:

(a)  the residents of the village have, by special resolution, consented to the money being used for that purpose, and

(b)  the use of the money for that purpose does not involve the funding of any matter specified in section 97 (3) of the Act.