Noyea Park Riverside Village [2000] QBCCMCmr 199 (19 April 2000)

P J HANLYREFERENCE: 0192-2000

ORDER OF AN ADJUDICATOR

MADE UNDER PART 10 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	21058
Name of Scheme:	Noyea Park Riverside Village
Address of Scheme:	5 Martens Street MOUNT WARREN PARK QLD 4207

TAKE NOTICE that pursuant to an application made under the abovementioned Act by the Body Corporate for Noyea Park Riverside Village CTS 21058

I hereby order that for the purposes of the Body Corporate and Community Management Act 1997 (the Act) and pursuant to section 229 of the Act, the next financial year end date of the Body Corporate for Noyea Park Riverside Village CTS 21058 shall be be 30 June 2000, in place of the previous financial year end date.

I further order that thereafter, each successive financial year for the Body Corporate for Noyea Park Riverside Village CTS 21058, shall commence on 1 July and terminate on 30 June, respectively.

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0192-2000

“Noyea Park Riverside Village” CTS 21058

The applicant, the Body Corporate for Noyea Park Riverside Village CTS 21058, has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 (the Act), quote –

The body corporate seeks an order to change the body corporate’s financial year period from 1^st January – 31^st December to 1^st July to 30^th June.

Section 223(1) of the Act provides that an adjudicator may make an order that is just and equitable in the circumstances (including a declaratory order) to resolve a dispute, in the context of a community titles scheme. An adjudicator’s order may contain ancillary or consequential provisions the adjudicator considers necessary or appropriate (section 230(1)).

In the case of a body corporate established under the 1980 Act, then unless the first annual general meeting has not been held, the financial year is each year ending on the last day of the month containing the anniversary of the first annual general meeting. Alternatively, in the case of body corporates in respect of which the referee has made an order changing the anniversary date, the financial year is each year ending on the last date of the month containing the date fixed by the referee (see section 276(9)).

Section 229 provides that with the consent of the body corporate, the order of the adjudicator may include a change of the body corporate’s financial year and of the dates when future financial years begin.

In the supporting grounds, the applicant states that the change will be advantageous to budgeting and for future accounting purposes, because of the introduction of the GST and the introduction of the Retirement Villages Act 1999. The body corporate consented to the change at an extraordinary general meeting held on 17 March, 2000.

In the circumstances, I am satisfied that the body corporate has consented to the proposed change of the body corporate’s financial year, and further that it is reasonable and appropriate to make an order changing this body corporate’s financial year end date to the date as proposed by the applicant. I have ordered accordingly.CHANGE FINANCIAL YEAR END DATEn30 June 20001 July 200030 junechange advantageous to budgeting and future accounting purposes