Tuesday, September 22, 2020

Body Corporate And Community Management Act 1997

Chapter 8
Part 9
Division 4
Section 386

Body corporate to call general meeting etc. if motion submitted to it | Section 386

(1)This section applies if a motion under section 379 is submitted to the body corporate for an existing scheme.

(2)Within 2 months after receiving the motion, the body corporate must—

(a)identify the pre-adjustment order entitlements for the existing scheme; and

(b)if section 381 applies to the scheme, obtain a valuation by a registered valuer stating the respective market values of lots included in the scheme; and

(c)call a general meeting of its members to decide what (if any) changes to the pre-adjustment order entitlements for the scheme should be made under sections 381 to 384.

(3)The notice of the general meeting must be accompanied by written evidence of the pre-adjustment order entitlements for the existing scheme and, if a valuation is obtained under subsection (2)(b), the valuation.

(4)The general meeting must be held within 28 days after it is called.

© 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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