Picture Point Terraces [2001] QBCCMCmr 629 (18 December 2001)

P J HANLYREFERENCE: 0750-2001

ORDER OF AN ADJUDICATOR

MADE UNDER PART 10 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	5576
Name of Scheme:	Picture Point Terraces
Address of Scheme:	47 Picture Point Crescent NOOSA HEADS QLD 4567

TAKE NOTICE that pursuant to an application made under the abovementioned Act by the

Body Corporate

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 Picture Point Terraces Community Titles Scheme 5576 shall be 28 February 2002, in place of the previous financial year end date.

I further order that thereafter, each successive financial year for the Body Corporate for Picture Point Terraces Community Titles Scheme 5576, shall commence on 1 March and terminate on 28 February respectively.

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0750-2001

“Picture Point Terraces” CTS 5576

The applicant, the Body Corporate for Picture Point Terraces CTS 5576, has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 (the Act), quote –

To change financial year end to end February 2002 to allow the annual meeting to be held in May each year, the first one to be May 2002.

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 bodies corporate 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 of the Act 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 interstate owners wish to attend the annual general meeting and be able to stay in their own units. The proposed change of financial year-end will allow the annual general meeting to be held in May, which is a quiet rental period.

I note that the body corporate consented to the change of financial year-end at the annual general meeting held on 4 May 2001.

In the circumstances, I am satisfied 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 daten28 February 20021 March28 Februaryinterstate owners