149Requirements for damage policy

#### 149 Requirements for damage policy 149 Requirements for damage policy > The damage policy for a building or structure must be with an approved insurer, be in the name of the association and provide for the following— > > > (a) the building or structure is to be insured for at least the amount determined in accordance with the regulations, > > > (b) if the building or structure is destroyed, the building or structure is to be rebuilt or replaced so that the condition of every part of the rebuilt or replacement building is not worse or less extensive than that part when new, > > > (c) if the building or structure is damaged but not destroyed, the damaged part of the building or structure is to be repaired or restored so that the condition of the repaired or restored part is not worse or less extensive than that part when new, > > > (d) expenses incurred in removing debris are payable, > > > (e) the remuneration of architects and other persons whose services are necessary as an incident to the rebuilding, replacement, repair or restoration is payable.