sec.349Adjusting contribution schedule lot entitlement

sec.349 Adjusting contribution schedule lot entitlement

This section applies to a basic scheme— consisting of lots created under a standard format plan of subdivision and a building format plan of subdivision; and established— before the commencement of this section; or if the application for development approval for the scheme was made before the commencement—after the commencement. The body corporate, by ordinary resolution without the use of proxies, may change the contribution schedule lot entitlements of the lots included in the scheme. The resolution must be passed— for a scheme mentioned in subsection (1)(b)(i)—within 15 months after commencement of this section; or for a scheme mentioned in subsection (1)(b)(ii)—within 15 months after the scheme is established. The notice of the meeting at which the resolution is proposed to be passed must state or be accompanied by a copy of independent professional advice, obtained by the body corporate from an appropriate person, about any changes required to the contribution schedule lot entitlements to equitably reflect the difference in the maintenance requirements of the standard format lots and the building format lots. a lawyer or registered valuer The body corporate may exercise the power under subsection (2) only once. The changed lot entitlements— must equitably reflect the difference in the maintenance requirements of the standard format lots and the building format lots; and unless the body corporate, by ordinary resolution, decides otherwise, apply only for contributions levied after the resolution is passed. s 349 ins 2003 No. 6 s 113 (sec.349-ssec.1) This section applies to a basic scheme— consisting of lots created under a standard format plan of subdivision and a building format plan of subdivision; and established— before the commencement of this section; or if the application for development approval for the scheme was made before the commencement—after the commencement. (sec.349-ssec.2) The body corporate, by ordinary resolution without the use of proxies, may change the contribution schedule lot entitlements of the lots included in the scheme. (sec.349-ssec.3) The resolution must be passed— for a scheme mentioned in subsection (1)(b)(i)—within 15 months after commencement of this section; or for a scheme mentioned in subsection (1)(b)(ii)—within 15 months after the scheme is established. (sec.349-ssec.4) The notice of the meeting at which the resolution is proposed to be passed must state or be accompanied by a copy of independent professional advice, obtained by the body corporate from an appropriate person, about any changes required to the contribution schedule lot entitlements to equitably reflect the difference in the maintenance requirements of the standard format lots and the building format lots. a lawyer or registered valuer (sec.349-ssec.5) The body corporate may exercise the power under subsection (2) only once. (sec.349-ssec.6) The changed lot entitlements— must equitably reflect the difference in the maintenance requirements of the standard format lots and the building format lots; and unless the body corporate, by ordinary resolution, decides otherwise, apply only for contributions levied after the resolution is passed.