Queensland Numbered Acts

ECONOMIC DEVELOPMENT AND OTHER LEGISLATION AMENDMENT ACT 2019 - SECT 18

18 Insertion of new s 19A

After section 19 —
insert—

19A Exemption from particular disclosure requirements under Body Corporate and Community Management Act 1997

(1) This section applies if—

(a) MEDQ enters into a contract (the
"initial contract" ) with another entity in relation to the development of land owned by MEDQ; and

(b) under the initial contract—

(i) the land is proposed to become scheme land under the Body Corporate and Community Management Act 1997 on the establishment of a community titles scheme under that Act (the
"proposed scheme" ); and

(ii) the other entity is to carry out development of the land or part of the land; and

(c) the initial contract provides for MEDQ and the other entity to enter into a further contract for the sale by MEDQ to the entity of lots or proposed lots included in the proposed scheme if, by a date provided for under the initial contract, MEDQ has not sold the lots or proposed lots to another entity.

(2) A reference in subsection (1)(c) to a further contract includes a reference to a contract required under a provision of the initial contract granting MEDQ an option to sell the lots or proposed lots to the other entity.

(3) The Body Corporate and Community Management Act 1997 , sections 212B and 213 do not apply in relation to the initial contract.

(4) In this section—

"development" see section 33(2).

"lot" see the Body Corporate and Community Management Act 1997 , schedule 6.

"proposed lot" see the Body Corporate and Community Management Act 1997 , section 211A.