Tuesday, September 29, 2020

Body Corporate And Community Management Act 1997

Chapter 2
Part 5
Section 47A

Adjustment of contribution schedule by resolution without dissent | Section 47A

(1)The body corporate for a community titles scheme, by resolution without dissent, may change the contribution schedule lot entitlements for the lots included in the scheme.

(2)The notice of the meeting at which the resolution is proposed to be passed must state, or be accompanied by a written notice stating—

(a)the proposed changes to the contribution schedule lot entitlements; and

(b)the reasons for the proposed changes to the contribution schedule lot entitlements.

(3)The changed contribution schedule lot entitlements must be consistent with either—

(a)the deciding principle for the existing contribution schedule lot entitlements; or

(b)another principle, if it is a contribution schedule principle.

(4)For subsection (3), if the deciding principle for the existing contribution schedule lot entitlements is the relativity principle based on 1 or more particular relevant factors (the original factors), the changed contribution schedule lot entitlements may—

(a)under subsection (3)(a), be consistent with the relativity principle based on the same particular relevant factors; or

(b)under subsection (3)(b), be consistent with—

(i)the relativity principle based on 1 or more particular relevant factors that, when considered as a whole, are different to the original factors considered as a whole; or

(ii)another contribution schedule principle.

(5)The body corporate must, as quickly as practicable, lodge a request to record a new community management statement incorporating the change.

Maximum penalty—100 penalty units.

Note—

Under section 46(10), a change to a lot entitlement takes effect on the recording of the new community management statement incorporating the change.

(6)The new community management statement must be prepared and recorded at the expense of the body corporate.

© Sourced from the Queensland Legislation website at 1 April 2020. For the latest information on Queensland Government legislation please go to https://www.legislation.qld.gov.au.

Disclaimer: Reproduced from the Body Corporate and Community Management Act 1997. This website does not give legal advice or other professional advice. You should seek legal or other professional advice before acting and not rely on any of the content on this website.

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