A bill to amend the Body Corporate and Community Management Act was introduced to parliament in September
The principal objectives of the bill are to:
- remove the requirement for bodies corporate to undertake a process to adjust contribution schedule lot entitlements to reflect the original entitlements prior to any, and all, relevant orders of a court, tribunal or specialist adjudicator;
- establish a process for contribution schedule lot entitlements that were adjusted pursuant to the 2011 reversion process to be changed to reflect the lot entitlements that applied to the scheme prior to the application of the reversion process;
- remove certain disclosure requirements for sellers of lots in community titles schemes and;
- provide jurisdictional consistency for the resolution of disputes about contribution schedule lot entitlement adjustments.
The bill can be viewed at: http://www.legislation.qld.gov.au/Bills/54PDF/2012/BodyCorpOLAB12.pdf`
Chris Gray discusses the changes on Sky news http://youtu.be/yb-K1pHLnDE