Valley Terraces Ecohamlets [2008] QBCCMCmr 16 (15 January 2008)

Last Updated: 22 February 2008

REFERENCE: 0032-2008

ORDER OF AN ADJUDICATOR

MADE UNDER PART 9 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	36425
Name of Scheme:	Valley Terraces Ecohamlets
Address of Scheme:	639 Currumbin Creek Road CURRUMBIN VALLEY QLD 4223

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 and pursuant to section 283 of that Act, the next financial year end date of the body corporate for Valley Terraces Ecohamlets CTS 36425 shall be 30th June 2008 in place of the previous financial year end date. I further order that each successive financial year for the body corporate for Valley Terraces Ecohamlets, shall commence on 1st July and terminate on the last day of June.

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0032-2008

"Valley Terraces Ecohamlets" CTS 36425

APPLICATION

This is an application dated 8^th January 2008 by the body corporate for Valley Terraces Ecohamlets CTS 36425 (the body corporate) for an order that the financial year end for the scheme be changed from 30^th December to 30^th June each year.


JURISDICTION

"Valley Terraces Ecohamlets" Community Title Scheme 36425 is a subsidiary community title scheme governed by the Body Corporate and Community Management Act 1997 (the Act) and the Body Corporate and Community Management (Standard Module) Regulation 1997. There are 58 lots in the scheme.

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 the exercise of rights or powers, or the performance of duties, under the Act. An adjudicator's order may contain ancillary and consequential provisions which the adjudicator considers necessary or appropriate (section 284(1)).

Section 283 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
later financial years begin.


SUBMISSION

The application attaches minutes of the first annual general meeting held on 18th December 2007 whereby it was resolved by motion 16 and a vote 34 - 0 that the financial year end be changed to 30^th June "in line with the other subsidiary bodies corporate and the principal body corporate."

DETERMINATION
I am satisfied that the body corporate has consented to the proposed change in the date of the scheme financial year. Section 283 Act couches the order which can be made in the terms of the commencement of future financial years. Thus the current financial year end will be 30^th June 2008, and future financial years will commence on 1^st July.