A participatory security is a security offering to the public, much like companies and managed funds. The difference is that the security generally consists of 'partnership' interests such as forestry partnerships, joint venture partnerships, and retirement villages.
What we do as statutory supervisor
As statutory supervisor for participatory securities, our legal duties include holding securities (such as mortgages) for the investors, monitoring the manager and its compliance with relevant legislation.
For information about specific duties or responsibilities in relation to retirement villages, see the Retirement Commission website.