Queensland Numbered Acts

BUILDING UNITS AND GROUP TITLES AND OTHER LEGISLATION AMENDMENT ACT 2022 - SECT 7

7 Amendment of s 32 (Levies by body corporate on proprietors)

(1) Section 32 (6) (c) —
omit, insert —

(c) must be paid to the body corporate as a monetary amount;

(2) Section 32 —
insert —

(8) Despite subsection (6)(c), a contribution levied by a body corporate in relation to a lot is taken to be paid in full or part if it is satisfied in full or part by an offset arrangement between the body corporate and the proprietor of the lot.

(9) Subsection (8) applies only if—

(a) the terms of the offset arrangement were approved by resolution of the body corporate at a general meeting before the arrangement was completed; and

(b) the fair value of land, goods or services provided as an offset under the offset arrangement equals the value of the contribution sought to be satisfied in full or part by the offset arrangement.

(10) Neither the proprietor nor an associate of the proprietor is entitled to vote on the motion for the resolution mentioned in subsection (9)(a).