Did officials request audited financial information from retirement village operators, for the Retirement Villages Act review: estimated costs of capital repayment timeframes, and, if so, from whom?

Answer

No, officials did not request this information. I note that section 13 of the Retirement Villages Act 2003 requires all registered retirement village operators to file an audited annual return on the Retirement Villages Register. The Register is available on the New Zealand Companies Office’s website. The Ministry used a range of information sources, many of which are publicly available. These sources are cited in the Regulatory Impact Statement, Financial Exit Matters, which is available on the Ministry’s website. In addition, the Ministry received more than 11,000 submissions as part of the discussion document on options for changes to the Retirement Villages Act in 2023. Submissions were received from retirement village operators, including Generus Living Group, Masonic Villages Trust, Bupa, and others.