sec.49Criteria for deciding just and equitable circumstances

sec.49 Criteria for deciding just and equitable circumstances

This section applies if an application is made for an order of a specialist adjudicator or QCAT for the adjustment of a lot entitlement schedule, decided on the equality principle or market value principle. This section sets out matters to which the specialist adjudicator or QCAT may, and may not, have regard for deciding— for a contribution schedule—if it is just and equitable in the circumstances for the respective lot entitlements not to be equal; and for an interest schedule—if it is just and equitable in the circumstances for the individual lot entitlements not to reflect the respective market values of the lots. However, the matters the specialist adjudicator or QCAT may have regard to for deciding a matter mentioned in subsection (2) are not limited to the matters stated in this section. The specialist adjudicator or QCAT may have regard to— how the community titles scheme is structured; and the nature, features and characteristics of the lots included in the scheme; and the purposes for which the lots are used. The specialist adjudicator or QCAT may not have regard to any knowledge or understanding the applicant had, or any lack of knowledge or misunderstanding on the part of the applicant, at the relevant time, about— the lot entitlement for the subject lot or other lots included in the community titles scheme; or the purpose for which a lot entitlement is used. In this section— relevant time means the time the applicant entered into a contract to buy the subject lot. subject lot means the lot owned by the applicant. s 49 ins 2003 No. 6 s 12 amd 2007 No. 11 s 6 ; 2009 No. 24 s 359 ; 2011 No. 9 s 10 (sec.49-ssec.1) This section applies if an application is made for an order of a specialist adjudicator or QCAT for the adjustment of a lot entitlement schedule, decided on the equality principle or market value principle. (sec.49-ssec.2) This section sets out matters to which the specialist adjudicator or QCAT may, and may not, have regard for deciding— for a contribution schedule—if it is just and equitable in the circumstances for the respective lot entitlements not to be equal; and for an interest schedule—if it is just and equitable in the circumstances for the individual lot entitlements not to reflect the respective market values of the lots. (sec.49-ssec.3) However, the matters the specialist adjudicator or QCAT may have regard to for deciding a matter mentioned in subsection (2) are not limited to the matters stated in this section. (sec.49-ssec.4) The specialist adjudicator or QCAT may have regard to— how the community titles scheme is structured; and the nature, features and characteristics of the lots included in the scheme; and the purposes for which the lots are used. (sec.49-ssec.5) The specialist adjudicator or QCAT may not have regard to any knowledge or understanding the applicant had, or any lack of knowledge or misunderstanding on the part of the applicant, at the relevant time, about— the lot entitlement for the subject lot or other lots included in the community titles scheme; or the purpose for which a lot entitlement is used. (sec.49-ssec.6) In this section— relevant time means the time the applicant entered into a contract to buy the subject lot. subject lot means the lot owned by the applicant.