Emerald Lakes - Town Centre Commercial [2009] QBCCMCmr 7 (12 January 2009)

Last Updated: 19 February 2009

REFERENCE: 0023-2009

ORDER OF AN ADJUDICATOR

MADE UNDER PART 9 OF CHAPTER 6

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997

Number of Scheme:	39243
Name of Scheme:	Emerald Lakes - Town Centre Commercial
Address of Scheme:	The Boulevard CARRARA QLD 4211

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 Emerald Lakes – Town Centre Commercial Community Titles Scheme 39243 shall be 31 March 2009, 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 – Town Centre Commercial Community Titles Scheme 39243, shall commence on 1 April and terminate on 31 March, respectively.

STATEMENT OF ADJUDICATOR’S REASONS FOR DECISION - REF 0023-2009

“Emerald Lakes - Town Centre Commercial” CTS 39243

The Applicant, the body corporate for Emerald Lakes – Town Centre Commercial Community Titles Scheme 39243 has sought the following order of an adjudicator under the Body Corporate and Community Management Act 1997 (the Act)
“To change the financial year end date to 31st March in line with other subsidiary schemes.”

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 first Extraordinary General Meeting (EGM) held on 14 November 2008 it was resolved to change the financial year to 31 March in line with the other subsidiary bodies corporate at Emerald Lakes and that a director of the body corporate manager be authorised to execute such documents to facilitate this change (see page 6 of relevant minutes).

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.

This order results in the body corporate having a one-off 4 month financial period.