E-Petition

Queensland citizens draws to the attention of the House that Section 151(3) of the Body Corporate and Community Management Act 1997 is somewhat ambiguous in relation to exactly who should have access to operate bank accounts set up for the proper management of Body Corporate funds. Your petitioners believe that the wording indicates that it should be much like a joint bank account operated by a couple, in that each one is a legal signatory to the account and that each one may operate – deposit or withdraw funds – individually, without any documented approval from the other party. 

However, it appears that just about every Body Corporate Management company in Queensland interprets this requirement differently, and sets up Body Corporate bank accounts so that they are the sole authorised signatories / operators. While your petitioners understand that there may be concerns with authorised Body Corporate officers acting fraudulently / dishonestly with Body Corporate funds, at the present time and with the section wording as it is, we believe that Body Corporate Managers are actually acting illegally in preventing Body Corporates, through their authorised officers, from having access to these accounts.

Your petitioners, therefore, request the House to provide clarification on the matter and present clear public advice to Body Corporate managers and Body Corporate members, on exactly who should be able to operate bank accounts set up for the proper management of Body Corporate funds.