//
© 2026 Zoe. All rights reserved.
Zoe is a legal information platform. Always consult the Federal Register of Legislation for authoritative text.
austlii:qld/QBCCMCmr/2011/520
procedural. Order granted: The financial year end date of the body corporate for Palais Royale CTS 16076 is changed to the last day of February in any year, with the new financial year commencing on 1st March...
A body corporate that had never held meetings because all its units were owned by the same person finally held its first annual general meeting and voted unanimously to change its financial year to run from 1 March to the end of February. The adjudicator approved this change under section 283 of the Body Corporate and Community Management Act 1997, but modified the exact wording of the order to say 'the last day of February' instead of '28th February' to avoid confusion in leap years.
AI-generated legal information, not legal advice. Zoe can make mistakes. Check the cited source, and for advice about your situation consult a qualified Australian lawyer.
2 cited instruments linked from this judgment.
Palais Royale [2011] QBCCMCmr 520
The Body Corporate for Palais Royale (applicant)
Sections 227(2) and 229(3)(a) of the Body Corporate and Community Management Act 1997 (Act), and the Body Corporate and Community Management (Standard Module) Regulation 2008 (Standard Module).
DECLARATORY ORDER - Change end financial year to date adopted by first annual general meeting.
I hereby order that for the purposes of the Body Corporate and Community Management Act 1997 and pursuant to section 283 of that Act_,_ the financial year end date of the body corporate for Palais Royale CTS 16076 is changed to the last day of February in any year, in place of the previous financial year end date. The new financial year commences on Ist March 2012.
I further order that each successive financial year for the body corporate for Palais Royale CTS 16076, shall commence on 1st March and terminate on the last day of February.
[1] This is an application dated 21st November 2011 by the body corporate for Palais Royale CTS 16076, for an order that the body corporate be authorised to adopt a new financial year.
[2] "Palais Royale" CTS 16076 is governed by the Body Corporate and Community Management Act 1997 (the Act) and the Body Corporate and Community Management (Standard Module) Regulation 2008. There are 14 lots in the scheme.
[3] Section 276(1) of the Act provides that an adjudicator may make an order that is just and equitable in the circumstances (including a declaratory order) to resolve a dispute, in the context of a community titles scheme, 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 of the 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 application has attached to it minutes of the first annual general meeting held on 18th November 2011, whereby by Motion 1, it was resolved by votes 14 - 0 that the scheme adopt the financial year 1st March to 28th February.
[6] The body corporate says that the scheme has held no meetings since its registration in 1997 because all the lots have been in the same ownership. It now wishes to hold an annual general meeting, and to adopt a financial year.
[7] I am satisfied that the body corporate has consented to the proposed adoption of a financial year for the scheme. The application seeks an end year date of 28th February but in order to avoid queries about Leap Years, I shall order that the year end date shall be the last day of February in any year. Thus the current financial year ends on the last day of February 2012 (which happens to be a Leap Year) and is deemed to have commenced on 1st March 2011.
Order granted: The financial year end date of the body corporate for Palais Royale CTS 16076 is changed to the last day of February in any year, with the new financial year commencing on 1st March 2012. Each successive financial year shall commence on 1st March and terminate on the last day of February.