Last Thursday the Federal Minister for Small Business, Michael McCormack, led the meeting of state Consumer Affairs ministers on the negative media on retirement villages.
The result? They have instructed Consumer Affairs Australia and New Zealand (CAANZ) to undertake further investigation into the regulation of retirement villages.
“This will include identifying any regulatory gaps, particularly those that may allow unfair practices to occur without there being a breach in the law, and undertaking an initial scoping exercise on whether greater consistency of legislation across jurisdictions would be practical and benefit consumers,” a spokesperson from Treasury said.
When will they report? “The first half of 2018”, they told us.
Will this mean media coverage into next year?
