Riverstone Crossing - Riverstone [2009] QBCCMCmr 13 (15 January 2009)

Last Updated: 19 February 2009

REFERENCE: 0018-2009

ORDER OF AN ADJUDICATOR

MADE UNDER PART 9 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	38112
Name of Scheme:	Riverstone Crossing - Riverstone
Address of Scheme:	Maudsland Road UPPER COOMERA QLD 4209

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 Riverstone Crossing - Riverstone Community Titles Scheme 38112 shall be 31 May 2009, in place of the previous financial year end date. I further order that thereafter, each successive financial year for the Body Corporate for Riverstone Crossing - Riverstone Community Titles Scheme 38112, shall commence on 1 June and terminate on 31 May, respectively.

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0018-2009

“Riverstone Crossing - Riverstone” CTS 38112

The Applicant, the body corporate for Riverstone Crossing - Riverstone Community Titles Scheme 38112 has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 (the Act)

“That the financial year end be changed to 31st May.”

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 or 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.

At the Annual General Meeting (AGM) held on 16 December 2008 it was resolved that the owners authorise SSKB Body Corporate Management Pty Ltd to lodge an application with the Commissioner to change the financial year end to 31st May (see Motion 19 (Change of Financial Year End) of relevant minutes).

In its grounds, the body corporate states that Riverstone Crossing – Riverstone is part of a layered scheme. The Principal Body Corporate and other subsidiary scheme both have 31st May as their end of year date. By bringing them into line, efficiency in budgeting ect would be achieved.

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 its financial year-end date to the proposed date.