Ceres (G&C) Main Beach [2003] QBCCMCmr 99 (4 September 2003)

Last Updated: 17 May 2005

REFERENCE: 0541-2003

ORDER OF AN ADJUDICATOR

MADE UNDER PART 9 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	26291
Name of Scheme:	Ceres (G&C) Main Beach
Address of Scheme:	Cnr Woodroffe Avenue and Pacific Street MAIN BEACH QLD 4217

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 283 of the Act, the next financial year-end date of the Body Corporate for Ceres (G&C) Main Beach Community Titles Scheme 26291 shall be 28 February 2004, in place of the previous financial year end date. I further order that thereafter each successive financial year for the Body Corporate for Ceres (G&C) Main Beach Community Titles Scheme 26291 shall commence on 1 March and terminate on 28 February.

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0541-2003

"Ceres (G&C) Main Beach" CTS 26291

The applicant body corporate has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 ("the Act"), quote –

"Changing the current financial year from 31^st October to 28^th February."

Section 276(1)(b) of the Act provides that an adjudicator may make an order that is just and equitable in the circumstances, to resolve a dispute, in the context of a community titles scheme, about the exercise of rights or powers, or the performance of duties under this Act of the community management statement. An adjudicator’s order may contain ancillary or consequential provisions the adjudicator considers necessary or appropriate (section 284(1) of the Act).

Section 283 of the Act specifically provides –

283. Change of body corporate’s financial year.
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 later financial years begin.

The applicant body corporate wishes to change its financial year-end date to 28 February each year as the current financial year-end date of 31 October results in the annual general meeting having to be held in the November to January period, a period of peak rents for the large number of scheme lot owners who are absentee investment owners. A change in the financial year-end will allow the annual general meeting to be held in an off-peak period which will allow more owners to attend. The applicant body corporate advises having authorised the change.

In the circumstances, I am satisfied that it is appropriate to make an order changing the body corporate financial year-end date as requested.