Queensland Consolidated Acts

BUILDING UNITS AND GROUP TITLES ACT 1980 - SECT 38D

38D Duty of body corporate as to keeping records, convening meetings etc.

(1) A body corporate shall—

(a) cause proper records to be kept of notices given to the body corporate under this or any other Act and of any orders made under this Act and served on the body corporate whether before or after the commencement of the Building Units and Group Titles Act Amendment Act 1988 ; and

(b) cause to be kept and retained for the prescribed time or times full and accurate minutes of its meetings (which shall include particulars of motions passed by it at those meetings) and proper books of account in respect of moneys received or expended by the body corporate; and

(c) cause to be prepared, from the books referred to in paragraph (b) , a proper statement of accounts of the body corporate in respect of each period commencing on the date of registration of the plan or the day immediately after the date up to which the last previous such statement was prepared and ending on the last day of the month that precedes by 3 months the month in which occurs each anniversary of the first annual general meeting; and

(d) give a copy of the minutes of each of its meetings to each proprietor and first mortgagee of a lot within 21 days after the meeting is held; and

(e) cause annual general meetings to be convened in accordance with section 29A .

(2) For the purpose of this section—

(a) proper books of account shall include a receipt book, cash book, financial institution deposit book, contributions levy register, cheque book and register of assets; and

(b) a register of assets shall disclose the personal property vested in the body corporate; and

(c) the expression
"book" includes any register or other record of information and any accounts or accounting records however compiled, recorded or stored and also includes any document.

(3) For the purposes of subsection (1) (c) , there shall be shown in respect of each item shown in every statement of accounts of the body corporate, except the first statement after incorporation of the body corporate, the corresponding amount (if any) as at the end of the immediately preceding financial year and where the financial years are not equal in length, the periods covered shall be clearly indicated by way of note or otherwise.

(3A) If the statement of accounts does not include an item corresponding to an item in the statement of accounts as at the end of the immediately preceding financial year, that previous item and the amount thereof shall be shown.

(4) If a body corporate fails or neglects to convene an annual general meeting within the period required by section 29A , the annual general meeting held next after the expiration of that period shall be an annual general meeting of the body corporate.

(5) Subsection (1) (d) does not apply in relation to a person who—

(a) has given the secretary of the body corporate a written notice instructing the secretary that the person does not wish to be given copies of the minutes; and

(b) has not withdrawn the instruction.