Difference betwen the QLD Small Lot and Standard Regulation
Newly built Queensland Bodies Corporate with between 3 and 6 lots (inclusive) are usually governed by the Small Lot Regulation. Your complex may be subject to the Standard Lot Module due to historical reasons. This can be changed though a motion at a General Meeting and subsequent registration of a new Community Management Statement with the Queensland Title Office. Have a look at the table below to understand the major differences.
|Feature||Small Lot Module||Standard Module|
|Office Bearers||Secretary and Treasurer||Chairman, Secretary and Treasurer|
|Office Bearer contraints||One person can do both jobs||One person can do all three jobs|
|Committee||Minimum 1, Maximum 2||Minimum 3, Maximum 7 (or the number of lots)|
|Banking||One to sign is sufficient||Two to sign is required|
|External audit||Resolution required if audit wanted||Special resolution required to have no audit|
|Committee nomination||Done at AGM - no notice required.||Requests must be issued 3-6 weeks in advance of AGM.|
|Committee resolutions||Minutes must go to all lot owners.||Minutes must go to all lot owners and lot owners have the right to lodge notices of opposition.|
|General meetings||Can be conducted by teleconference or videoconference. Remote voting is ok if agreed by the Body Corporate.||Can be conducted by teleconference or videoconference. Remote voting is not possible.|
|Proxies||Can be used in any way||Restrictions on when they can be used and how many can be held by one person.|
|Body Corporate Manager Engagement||1 year maximum.||3 year maximum.|
If your Body Corporate has only two lots, the new Two Lot Regulation module may be more appropriate.