Queensland Numbered Acts

BODY CORPORATE AND COMMUNITY MANAGEMENT AND OTHER LEGISLATION AMENDMENT ACT 2011 No. 9 - SECT 8

(1) Section 48, heading, 'lot entitlement'—

omit, insert—

'interest'.

(2) Section 48(1), 'a lot entitlement'—

omit, insert—

'an interest'.

(3) Section 48(2)—

insert—

'Note—

The body corporate must be given notice of the application under—

(a) for an application to a specialist adjudicator under chapter 6—section 243; or

(b) for an application to QCAT as provided under the QCAT Act—the QCAT Act, section 37.'.

(4) Section 48(5) to (10)—

omit, insert—

'(5) The order of the specialist adjudicator or QCAT must be consistent with the market value principle, as applied in relation to the respective market values of the lots included in the scheme when the order is made.

'(6) If the specialist adjudicator or QCAT orders an adjustment of the interest schedule, the body corporate must, as quickly as practicable, lodge a request to record a new community management statement incorporating the adjustment ordered.

Maximum penalty for subsection (6)—100 penalty units.

Note—

Under section 46(10), a change to a lot entitlement takes effect on the recording of the new community management statement incorporating the change.'.