In that case they should have no issues including the 6 month buy back clause.
No clause,no Percy.Simple as that.
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In addition, the Retirement Villages Code of Practice 2008 requires such liabilities to be repaid to a resident if their unit cannot be lived in due to damage to the unit, such as following an earthquake or fire, where the unit is not repaired / rebuilt and a resident's Occupational Right Agreement is terminated. This includes any of the up to 30% (typically) that might have accrued to the retirement village operator. However both parts, the original capital sum paid by the resident and the fixed charge that accrues to the village owner, are insurable.
Clearly this should not be an issue if the damage is minor but could be if the event of major damage and if the liabilities have not been insured. The same would apply to SUM others.
So OCA to join the NZX50 in may by the looks, good news.
I wont hold my breath as when ATM was added to indexes absolutely nothing happened haha. So there is enough free float to join the index?