Emerald Lakes - The Village Residential [2007] QBCCMCmr 656 (22 November 2007)

Last Updated: 4 January 2008

REFERENCE: 0928-2007

ORDER OF AN ADJUDICATOR

MADE UNDER PART 9 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	37497
Name of Scheme:	Emerald Lakes - The Village Residential
Address of Scheme:	The Boulevard CARRARA QLD 4211

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

the Body Corporate for Emerald Lakes – The Village Residential

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 Emerald Lakes – The Village Residential Community Titles Scheme 37498 shall be 31 March 2008, in place of the previous financial year end date. I further order that, thereafter, each successive financial year for the Body Corporate for Emerald Lakes – The Village Residential Community Titles Scheme 37498 shall commence on 1 April and end on 31 March.

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0928-2007

"Emerald Lakes - The Village Residential" CTS 37497

Emerald Lakes – The Village Residential community titles scheme consists of seven lots and common property. The scheme’s community management statement indicates the Body Corporate and Community Management (Accommodation Module) Regulation 1997 (Accommodation Module) applies to the scheme, which is in a layered arrangement.

APPLICATION

This application was made under the Body Corporate and Community Management Act 1997 (Act) by the Body Corporate for Emerald Lakes – The Village Residential (applicant) on 20 November 2007, and seeks the following declaratory order:

To change the Body Corporate financial year end date to 31st March to bring it into line with the other subsidiary schemes at Emerald Lakes.

The application is made pursuant to a resolution at an Extraordinary General Meeting (EGM) of the Body Corporate on 11 October 2007.

JURISDICTION

I am satisfied that this is a matter which falls within the legislative dispute resolution provisions.^[1]

Section 276(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, about a claimed or anticipated contravention of the Act or the community management statement, or the exercise of rights or powers, or the performance of duties, under the Act or the community management statement. An adjudicator's order may contain ancillary and consequential provisions the adjudicator considers necessary or appropriate (section 284(1)).

Section 283 of the Act specifically provides that, with the consent of the body corporate, the order of the adjudicator may include a change of a body corporate’s financial year and of the dates when later financial years will begin.

DETERMINATION

In the circumstances, I am satisfied that the Body Corporate has properly consented to the proposed change of the Body Corporate’s financial year and that it is appropriate to make an order changing the financial year end date to 31 March in each year. The EGM minutes indicate that the purpose of the change is to bring the financial year for the scheme in line with the other subsidiary body corporates at Emerald Lakes.

This order results in the Body Corporate having an abnormal length financial year for one year. The Body Corporate should be cognisant of this fact when managing its financial affairs.

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^[1] See sections 227, 228, 276 and Schedule 5 of the Act