The annual meeting gives residents a chance to receive key information about the village’s operations, finances and plans, and provides a forum for residents to ask questions, raise issues and participate in decisions that affect village life.
Notice of an annual meeting
The retirement village operator must hold an annual meeting of residents each year.
The operator must give residents at least 14 days' written notice that the meeting is being held. If a special resolution will be proposed, at least 21 days' written notice is required.
The notice must include:
- The date, time and place of the meeting
- The purpose of the meeting
- A statement that the resident may appoint another resident as proxy
- If a special resolution will be moved, a statement that a special resolution will be moved and the full text of any special resolution to be moved.
The notice must include additional information in certain circumstances.
If a maintenance charge increase will be proposed, the notice must include:
- A statement that a special resolution is proposed to increase the maintenance charge above the adjusted maintenance charge
- The amount of the proposed maintenance charge
- The reasons for the proposed increase
- Whether the reasons include funding an increase in the operator’s salary or wages.
If a change to services or facilities will be proposed:
- A statement that a special resolution is proposed to vary a service or facility
- Details of the proposed variation
- An estimate of any costs of the proposed variation
- Whether a special levy or maintenance charge increase above the adjusted rate will be required to give effect to the variation.
The meeting may be held by teleconference or video conference. If the meeting uses technology, the notice must also include:
- the name of the technology
- contact details of someone who can help residents access it
- whether the meeting will be recorded, and
- if a room in the village will be available for residents to attend and watch, the location of that room.
A copy of the notice must also be posted in a prominent position in a common area of the village.
Information to be provided at annual meetings
The operator must present the following information at every annual meeting:
1. A statement signed by the proprietor of the retirement village land, which must detail:
- whether all exit entitlements and repayable entry payments were paid in full and on time in the previous financial year. If not, the amount unpaid, details of the delay and the reasons must be provided.
- whether the proprietor is aware of any reasons why the village will not be able to meet its debts during the next financial year, and why.
2. A financial statement independently reviewed by a qualified accountant before the meeting, which details:
- the previous financial year’s income and expenditure
- payments into and out of the capital maintenance fund
- any provision for future extraordinary or major works
- expected expenditure on goods and services for the next financial year
- any proposed increases in maintenance charges to be paid by residents
- any special levies residents may be asked to pay.
3. A capital maintenance plan and report on capital maintenance works carried out during the previous financial year.
4. A report on disputes during the past year, including:
- the number and types
- action taken to resolve them
- their outcomes, and
- any changes made or proposed to address issues requiring a broader response.
This dispute report must also be provided to Consumer Affairs Victoria within 14 days of the annual meeting.
Passing resolutions
Ordinary resolutions
An ordinary resolution is passed if more than 50% of residents who vote at the meeting vote in favour of the proposal.
Ordinary resolutions are used for routine decisions where the Act or village rules do not require a higher threshold.
Special resolutions
Some important decisions require a special resolution.
A special resolution is passed if:
- residents are given at least 21 days’ written notice of the meeting and the proposed resolution, and
- at least 75% of residents who vote at the meeting vote in favour of the proposal.
Special resolutions are required for matters specified in the Act, such as certain changes to village operations, by‑laws, or financial arrangements.
How votes are counted
A vote may be taken by:
- a show of hands or on the voices of those present, or
- a count of votes.
Any resident may require that the vote be counted (rather than decided only by a show of hands or on the voices of those present). If this is requested, the chair of the meeting must ensure that each resident’s vote is properly counted and recorded. A record of the result must also be recorded in the meeting minutes.
If there is an owners corporation in the retirement village
The annual meeting requirements of both the Retirement Villages Act 1986 and the Owners Corporations Act 2006 must be met.
Find more information about owners corporation annual general meetings.
Voting proxies in retirement villages
If residents cannot attend an annual meeting or committee meeting, residents can authorise a second resident of the village to represent them as a proxy. Their vote is counted as if it were the first resident’s.
The authorisation must be in writing, signed and state the name of the person authorised as the proxy. It lapses after 12 months unless an earlier date is specified.
No person may require or pressure residents to appoint a particular person as their proxy. This is a criminal offence.
Powers of attorney in a retirement village
A power of attorney enables residents to appoint a family member or trusted friend to manage their legal and financial affairs, if residents become ill or travel overseas.
Residents cannot appoint a retirement village operator, their close associates, or someone they nominate as their power of attorney unless residents are related to them.