Late last year we wrote about the proposal of the LNP government (Queensland) to allow the reinstatement of lot entitlements that had been changed back to what they first were despite there being an equitable adjustment order from a court, tribunal or specialist adjudicator. Yes – it still remains a confusing concept.
Click here for that article, which also gives the history of lot entitlements.
The bill was passed yesterday (19 March 2013). It will become law when assented to by the Governor General, which usually takes about a week.
When that happens, any owner in one of the 130 or so buildings that had adjustments reversed under the 2011 amendments can make application to their body corporate for the entitlements to be changed back to what a court, tribunal or specialist adjudicator had ordered them to be adjusted to on an equitable basis.
The process is not dissimilar to the manner in which the original reversal was allowed to take place.
If you need help dealing with reinstating lot entitlements, please let us know. For matters of this nature we can fix a fee for a defined process.
Most importantly this is open slather for lot entitlement adjustments. That will more than likely come later in the year. At the same time as the bill was passed the Attorney General confirmed a full review of the Body Corporate and Community Management Act 1997 (BCCM Act) is coming. Click here for that announcement.
This could be a big one. We had the BCCM Act announced as a concept in 1994, introduced as law in 1997 and further amended in 2003 and 2008. After spending years cataloguing the many ways the BCCM Act and the Regulation Modules can be improved, we will be an active participant in that review.
An example of the benefit of participating in the consultation process is that you can suggest better ways for the law to be changed. A good example of this is the submission we made about the bill that just passed:
- Our client obtained an adjustment order from the tribunal only to have the 2011 amendments come in to effect before the new CMS was registered to reflect the tribunal’s order.
- The initial draft of this bill only sought to reinstate lot entitlements adjusted by the recording of a new CMS.
- We submitted that the bill should be amended to increase its scope to include our client’s situation. That submission was accepted and the amendments were made.
Only time will tell what changes are coming – but as always, we will keep subscribers informed. If you want to stay informed and have not received this email directly, you can subscribe for free here.
Those in the Queensland strata industry had better brace for change (again)!