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Body Corporate and Community Management (Standard Module) Regulation 2020
sec.205Combined policy of insurance
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### sec.205 Combined policy of insurance
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.205-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.205-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.