Sanctuary Lake [2002] QBCCMCmr 169 (3 April 2002)

P J HANLYREFERENCE: 0178-2002

ORDER OF AN ADJUDICATOR

MADE UNDER PART 10 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	25711
Name of Scheme:	Sanctuary Lake
Address of Scheme:	40 Teemangum Street CURRUMBIN QLD 4223

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

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 Sanctuary Lake Community Titles Scheme 25711 shall be 30 April 2002, in place of the previous financial year-end date.

I further order that thereafter, each successive financial year for the Body Corporate for Sanctuary Lake Community Titles Scheme 25711, shall commence on 1 May and terminate on 30 April, respectively.change fin year 30 April 20021 May 200230 Aprilconvenience

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0178-2002

“Sanctuary Lake” CTS 25711

The applicant, the Body Corporate for Sanctuary Lake Community Titles Scheme 25711, has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 (the Act), quote –

Pursuant to section 229 of the Body Corporate and Community Management Act 1997 the body corporate applies to change its financial year end to 30 April each year.

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 corporate’s 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)).

In the case of a body corporate for a community titles scheme established other than under the 1980 Act, the financial year means, unless previously changed by order of the adjudicator, the period from the establishment of the scheme until the end of the month immediately before the month when the first anniversary of the establishment of the scheme falls, and each successive period of one year from the end of the first financial year (schedule 4).

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 body corporate has consented at a general meeting to change the date of the end of financial year because the current financial year-end date requires the annual general meeting to be held before 28 February each year. This is inconvenient, as much of the preparatory work for the annual general meeting has to take place during busy holiday rental periods.

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.

P J HANLYREFERENCE: 0178-2002

ORDER OF AN ADJUDICATOR

MADE UNDER PART 10 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	25711
Name of Scheme:	Sanctuary Lake
Address of Scheme:	40 Teemangum Street CURRUMBIN QLD 4223

TAKE NOTICE that pursuant to an application made under the abovementioned Act by the Body Corporate for Sanctuary Lake CTS 25711

I hereby order that this order is intended to replace in its entirety my order dated 3 April 2002.

I further 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 Sanctuary Lake Community Titles Scheme 25711 shall be 30 April 2003, in place of the previous financial year-end date.

I further order that thereafter, each successive financial year for the Body Corporate for Sanctuary Lake Community Titles Scheme 25711, shall commence on 1 May and terminate on 30 April, respectively.change fin year 30 April 20021 May 200230 Aprilconvenience

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0178-2002

“Sanctuary Lake” CTS 25711

On 3 April 2002, I issued an order that changed this scheme’s financial year-end date to 30 April 2002. The body corporate had resolved at the annual general meeting held on 26 February 2002 that such a change should be made. At the time that I issued my order, I provided the following Reasons for Decision:

The applicant, the Body Corporate for Sanctuary Lake Community Titles Scheme 25711, has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 (the Act), quote –

Pursuant to section 229 of the Body Corporate and Community Management Act 1997 the body corporate applies to change its financial year end to 30 April each year.

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 corporate’s 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)).

In the case of a body corporate for a community titles scheme established other than under the 1980 Act, the financial year means, unless previously changed by order of the adjudicator, the period from the establishment of the scheme until the end of the month immediately before the month when the first anniversary of the establishment of the scheme falls, and each successive period of one year from the end of the first financial year (schedule 4).

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 body corporate has consented at a general meeting to change the date of the end of financial year because the current financial year-end date requires the annual general meeting to be held before 28 February each year. This is inconvenient, as much of the preparatory work for the annual general meeting has to take place during busy holiday rental periods.

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.

Since making my order, it has been brought to my attention that the body corporate would technically be required to hold a further annual general meeting within 3 months of the new end of financial year. Having only held the annual general meeting on 26 February 2002 it would be an unnecessary expense to hold another annual general meeting within such a short space of time.

I have been requested to reconsider my earlier order, and make a further order that changes the end of financial year to 30 April 2003. I have decided that it is appropriate that I make such a further order. This order will replace my earlier order in its entirety.change fin year 30 April 20021 May 200230 Aprilconvenience
change fin year 30 April 20021 May 200230 Aprilconvenience