Queensland Consolidated Acts

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 321A

321A Changing financial year

(1) A body corporate for a community titles scheme may, by ordinary resolution at a general meeting, change the financial year for the body corporate and adopt a new 12-month period (the
"new period" ) as the financial year for the body corporate.

(2) However, a body corporate may only adopt a new period once within a five-year period.

(3) For subsection (2) , the five-year period commences on the day the new period commences.