sec.111Adjustment for on-sale not at market value

### sec.111 Adjustment for on-sale not at market value The chief executive or QCAT must decide whether the contract price or value for the on-sale reasonably reflected the property’s market value when the contract was entered into. If the chief executive or QCAT decides the contract price or value did not reasonably reflect the property’s market value— the chief executive or QCAT must fix what the reasonable market value of the property was when the contract was entered into; and for section 110 (1) , the contract price or value is taken to be that fixed market value. (sec.111-ssec.1) The chief executive or QCAT must decide whether the contract price or value for the on-sale reasonably reflected the property’s market value when the contract was entered into. (sec.111-ssec.2) If the chief executive or QCAT decides the contract price or value did not reasonably reflect the property’s market value— the chief executive or QCAT must fix what the reasonable market value of the property was when the contract was entered into; and for section 110 (1) , the contract price or value is taken to be that fixed market value. - (a) the chief executive or QCAT must fix what the reasonable market value of the property was when the contract was entered into; and - (b) for section 110 (1) , the contract price or value is taken to be that fixed market value.