Kingfisher Bay, Eastern Forest [2008] QBCCMCmr 219 (26 June 2008)

Last Updated: 1 August 2008

REFERENCE: 0526-2008

ORDER OF A REFEREE

MADE UNDER PART V OF THE

BUILDING UNITS AND GROUP TITLES ACT 1980

Number of Scheme:	GTP 107270
Name of Scheme:	Kingfisher Bay, Eastern Forest 3
Address of Scheme:	QUEENSLAND

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

The Body Corporate for Kingfisher Bay, Eastern Forest 3

I hereby order that 31 March shall, for the purposes of the Building Units and Group Titles Act 1980 (the Act) be taken to be the anniversary of the first annual general meeting of the body corporate for Kingfisher Bay, Eastern Forest 3 which will change the financial year end date to 31 December. Each subsequent anniversary of this date shall for the purposes of the Act be taken to be an anniversary of the first annual general meeting of the Body Corporate in place of the anniversary of the date on which the first annual general meeting was in fact held.

STATEMENT OF REFEREE’S REASONS FOR DECISION - REF 0526-2008

“Kingfisher Bay, Eastern Forest 3”

The applicant body corporate has sought the following order of a Referee section 94A of the Building Units and Group Titles Act 1980 (BUGT Act) to vary the anniversary of the first annual general meeting of the Body Corporate. The application was couched in the following terms:

That the year end of the Body Corporate be changed to 31th December of each year to coincide with other bodies corporate given a large amount of costs relate to the Kingfisher Bay Principal Body Corporate and Kingfisher Bay Primary Thoroughfare Body Corporate.

The Body Corporate was created by the registration of a GTP on 29 November 2007. It is a subsidiary Residential Body Corporate in the Kingfisher Bay Resort and was developed in accordance with the Integrated Resort Development Act 1987 (IRD Act). The BUGT Act applies for the operation of the IRD Act (section 5A, BUGT Act).

Section 29 of the BUGT Act requires the first annual general meeting to be held within 3 months after the registration of the plan and the Body Corporate is obliged to hold an annual general meeting each year not later than 2 months after the anniversary date of the first annual general
meeting (s29A, BUGT Act).

Section 94A of the BUGT Act provides:

94A Order varying anniversary of first annual general meeting of body corporate

Where, pursuant to an application by a body corporate for an order under this section, the referee considers that it is reasonable so to do, the referee may order that a date specified in the order and occurring after the order is made shall, for the purposes of this Act, be taken to be the anniversary of the first annual general meeting of the body corporate whereupon each subsequent anniversary of that date shall for the purposes of this Act be taken to be an anniversary of the first annual general meeting of the body corporate in place of the anniversary of the date on which the first annual general meeting was in fact held.

The applicant states that the Kingfisher Bay Principal Body Corporate (PBC) and Kingfisher Bay Primary Thoroughfare Body Corporate (PTBC) have their year end at 31 December each year. It would therefore be more convenient to align the financial year end date of the Kingfisher Bay, Eastern Forest 3 with the financial year end dates of the Principal Body Corporate and the Primary Thoroughfare Body Corporate so as to streamline financial reporting and budgeting.

It was therefore resolved at the first Annual General Meeting that the body corporate apply to a Referee under the BUGT Act to have the Anniversary Date varied to 31 March so the financial year end date will be 31 December each year.

Determination

In the case of a body corporate established under the Act, unless the first annual general meeting has not been held, the financial year end date is the last day of the month containing the anniversary of the first annual general meeting. Alternatively, in the case of a body corporate in respect of which a referee has made an order changing the anniversary date, the financial year end date is the last date of the month containing the date fixed by the referee.

In the circumstances, I consider that it is reasonable to make an order varying the anniversary of the first annual general meeting to 31 March so that 1 August 2008. The varying of the anniversary date to 31 March will change the financial year end date to 31 December which will align the financial year end with the PBC and the PTBC.
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