Body Corporate and Community Management (Standard Module) Regulation 2020 (Standard Module)

CHANGE OF FINANCIAL YEAR - application to change the financial year of the Body Corporate

For the purposes of the Body Corporate and Community Management Act 1997 (Act) and pursuant to section 283 of the Act, from 1 April 2027 the financial year of the Body Corporate for Country Lane shall be from 1 April to 31 March, and thereafter each financial year will commence on 1 April.

• [1] This is an application by the body corporate for Country Lane for an order that the body corporate be authorised to adopt a new financial year. It was authorised by resolution of the committee dated 4 June 2025.

• [2] Country Lane is a 42 lot scheme governed by the Body Corporate and Community Management Act 1997 (Act) and the Body Corporate and Community Management (Standard Module) Regulation 2020.
• [3] Section 276(1) of the Act provides that an adjudicator may make an order that is just and equitable in the circumstances about the exercise of rights or powers, or the performance of duties, under the Act. An adjudicator's order may contain ancillary and consequential provisions which the adjudicator considers necessary or appropriate (section 284(1)).
• [4] Section 283 Act provides that with the consent of the body corporate, the order of the adjudicator may include a change to the body corporate's financial year and to the dates when later financial years begin.

• [5] The body corporate wishes to change the commencement date of the financial year from 1st January to 1st April.
• [6] Attached to the application were minutes of the annual general meeting held on 20 March 2025 wherein at Motion 10 the body corporate unanimously resolved to lodge an application to change the scheme financial year so that it runs from 1 April to 31 March.

• [7] I am satisfied the Body Corporate has properly consented to the proposed change of its financial year. In the circumstances, it is appropriate to make an order changing the financial year end date to 31st March each year, so that the financial year runs from 1 April to 31 March, effective from the financial year beginning April 1, 2027.