Currimundi Lake Freehold Retirement Villas No 3 [2003] QBCCMCmr 329 (16 January 2003)

Last Updated: 7 September 2007

RA MeekREFERENCE: 0034-2003

ORDER OF AN ADJUDICATOR

MADE UNDER PART 10 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	28851
Name of Scheme:	Currimundi Lake Freehold Retirement Villas No 3
Address of Scheme:	40 Lakeside Crescent CURRIMUNDI QLD 4551

TAKE NOTICE that pursuant to an application made under the abovementioned Act by the body corporate for Currimundi Lake Freehold Retirement Villas No. 3

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 Currimundi Lake Freehold Retirement Villas No 3 Community Titles Scheme 28851 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 Currimundi Lake Freehold Retirement Villas No 3 Community Titles Scheme 28851, shall commence on 1 May and terminate on 30 April, respectively. n30 April 20031 May30 April

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0034-2003

"Currimundi Lake Freehold Retirement Villas No 3" CTS 28851

The applicant, the Body Corporate for Currimundi Lake Freehold Retirement Villas No 3 Community Titles Scheme 28851, has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 (the Act), quote –

That the adjudicator agree to change the body corporate’s financial year end to 30 April and dates when later financial years begin to 1 May.

Section 223(1) 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 body corporate states that at the AGM held on 7 January 2003, it resolved to submit an application to the adjudicator to change the financial year end date to 30 April, and the date when later financial years begin to 1 May.

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. n30 April 20031 May30 April