Queensland Numbered Acts

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BODY CORPORATE AND COMMUNITY MANAGEMENT AND OTHER LEGISLATION AMENDMENT ACT 2011 No. 9 - SECT 5

5 Insertion of new ss 46A and 46B

After section 46—

insert—

'(1) The equality principle for deciding contribution schedule lot entitlements for the lots included in a community titles scheme is the principle that the lot entitlements must be equal, except to the extent to which it is just and equitable in the circumstances for them not to be equal.

Examples of circumstances in which it may be just and equitable for lot entitlements not to be equal—
a layered arrangement of community titles schemes, the lots of which have different uses (including, for example, car parking, commercial, hotel and residential uses) and different requirements for public access or maintenance
a commercial community titles scheme in which the owner of 1 lot uses a larger volume of water or conducts a more dangerous or higher risk activity than the owners of the other lots

'(2) The relativity principle for deciding contribution schedule lot entitlements for the lots included in a community titles scheme is the principle that the lot entitlements must clearly demonstrate the relationship between the lots by reference to 1 or more particular relevant factors.

'(3) A relevant factor for subsection (2) may, and may only, be any of the following—

(a) how the community titles scheme is structured;
(b) the nature, features and characteristics of the lots;
(c) the purposes for which the lots are used;
(d) the impact the lots may have on the costs of maintaining the common property;
(e) the market values of the lots.

'(1) The market value principle for deciding interest schedule lot entitlements for the lots included in a community titles scheme is the principle that the lot entitlements must reflect the respective market values of the lots, except to the extent to which it is just and equitable in the circumstances for the individual lot entitlements not to reflect the respective market values of the lots.

'(2) The following apply for working out the market values of lots included in a community titles scheme—

(a) if a lot included in the scheme is a subsidiary scheme, the market value of the lot is the market value of the scheme land for the subsidiary scheme;
(b) for establishing the market value of a lot created under a standard format plan of subdivision or volumetric format plan of subdivision, buildings and improvements on the lot are to be disregarded.'.


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