Queensland Consolidated Acts

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 381

381 Adjustment if a lot in existing scheme has been subdivided

(1) This section applies if a lot (the
"pre-subdivision lot" ) in an existing scheme as it was when the pre-adjustment order entitlements for the scheme were decided comprises 2 or more lots (the
"post-subdivision lots" ) when a relevant decision is made in relation to the scheme.

(2) The changed entitlements for the existing scheme must apportion the pre-adjustment order entitlement for the pre-subdivision lot between the post-subdivision lots according to the respective market values of the post-subdivision lots, except to the extent to which it is just and equitable in the circumstances for the individual contribution schedule lot entitlements for the post-subdivision lots not to reflect the respective market values of the lots.

(3) In this section—

"pre-adjustment order entitlement" , for the pre-subdivision lot, means the proportion of the pre-adjustment order entitlements for the existing scheme attributable to the pre-subdivision lot.