Amendments to the BCCM Act relating to lot entitlements commenced 14 April 2011.
Amendments to the lot entitlement provisions of the Body Corporate and Community Management Act 1997 (the BCCM Act) commenced on 14 April 2011.
The objective of the amendments is to provide a new system for setting and adjusting lot entitlements. The amendments will also give lot owners in existing schemes that have, prior to the amendments, been subject to a contribution schedule lot entitlement adjustment order of a specialist adjudicator, tribunal or court, the opportunity to revert the contribution schedule lot entitlements to their pre-adjustment settings.
It is anticipated that a new version of BCCM Form 14, Information sheet (body corporate information) will be gazetted on 29 April.The existing (current) Form 14 will be revoked on 31 May 2011