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BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 330
Existing plan
(1) On the commencement, a community titles scheme (the
"new scheme" ) is established for the existing plan.
(2) The new scheme is a
basic scheme.
(3) Each lot in the existing plan becomes a lot included in the
new scheme.
(4) The scheme land for the new scheme is all the land
included in the parcel for the existing plan.
(5) Each item of additional
common property under the 1980 Act, part 2 , division 2 for the existing plan
(other than an item of additional common property acquired as freehold land
and incorporated into the parcel for the existing plan) becomes a body
corporate asset for the new scheme, and an exclusive use by-law applying to
the item and having continuing effect under this part is taken to apply to the
item as a body corporate asset.
(6) The body corporate under the 1980 Act for
the existing plan is taken to be, without change to its corporate identity,
the body corporate for the new scheme.
(7) A person holding office as the
chairperson, secretary, treasurer, or a member of the committee, of the body
corporate for the existing plan immediately before the commencement continues,
subject to this Act, in the corresponding office under this Act as if elected
or appointed to the office under this Act.
(8) A procedural step taken
towards the calling of a general meeting of the body corporate for the
existing plan or a meeting of its committee before the commencement is validly
taken under this Act if taken in accordance with the law then in force.
(9)
The financial year for the new scheme is, unless the first annual general
meeting has not been held for the existing plan— (a) each year ending on the
last day of the month containing the anniversary of the first annual general
meeting held for the existing plan; or
(b) if a referee under the 1980 Act
has fixed a date to be taken to be the anniversary of the first annual general
meeting of the body corporate—each year ending on the last day of the month
containing the date fixed by the referee.
(10) If a first annual general
meeting has not been held for the new scheme before the commencement, then,
for the purpose only of calculating when the first annual general meeting is
to be held, and for determining the new scheme’s financial year, the
establishment of the scheme is taken to have happened when the existing plan
was registered.
(11) The original proprietor for the existing plan becomes
the original owner for the new scheme.
(12) However, obligations imposed
under this Act on the original owner when a scheme is established apply only
to the extent that equivalent obligations under the 1980 Act have not been
complied with.
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