Body Corporate and Community Management (Small Schemes Module) Regulation 2020
sec.124Combined policy of insurance [ SM, s 205 ]
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sec.124 Combined policy of insurance [ SM, s 205 ]
This section applies if the body corporate— is required to put in place reinstatement insurance covering lots included in the community titles scheme; and elects under this part to put in place insurance under a voluntary insurance scheme covering other lots included in the scheme. The body corporate may arrange with an insurer a single policy of insurance for all insurance mentioned in subsection (1) . (sec.124-ssec.1) This section applies if the body corporate— is required to put in place reinstatement insurance covering lots included in the community titles scheme; and elects under this part to put in place insurance under a voluntary insurance scheme covering other lots included in the scheme. (sec.124-ssec.2) The body corporate may arrange with an insurer a single policy of insurance for all insurance mentioned in subsection (1) .
- (a) is required to put in place reinstatement insurance covering lots included in the community titles scheme; and
- (b) elects under this part to put in place insurance under a voluntary insurance scheme covering other lots included in the scheme.