48Guarantees and bonds

48 Guarantees and bonds (1) The prescribed circumstances for the purposes of section 22 of the Act are the demolition, removal or re-erection of a building. (2) For the purposes of section 22(a) and (b) of the Act, the amount of the bond or the amount in respect of which an undertaking and guarantee is given (as the case requires)— (a) in the case of the demolition or removal of a building, must not exceed the lesser of— (i) the estimated cost of building work to which the building permit applies; or (ii) the sum of $100 for every 1 m2 of floor area of the building; and (b) in the case of the re-erection of a building, must not exceed the lesser of— (i) the estimated cost of the building work to which the building permit applies; or (ii) $10 000. Division 6—Duties of council