185ICladding rectification agreement

185I Cladding rectification agreement (1) Subject to section 185J, a Council may enter into a cladding rectification agreement in respect of rateable land with an existing building on it, to fund works that rectify cladding on buildings with— (a) the owner of the rateable land or, in the case of rateable land that is managed by an owners corporation, the owners corporation; and (b) a lending body, unless the Council is the lending body; and (c) any other person that the other parties to the agreement agree should be a party to the agreement and agrees to be a party to the agreement. (2) Sections 185J(1)(b) and 185M(1) and (2) do not apply to a cladding rectification agreement in respect of rateable land that is used for a residential purpose. (3) The Minister administering the **Building Act 1993** must publish a notice in the Government Gazette specifying the type of works that may be funded by a cladding rectification agreement. (4) A Council must not enter into a cladding rectification agreement to fund works unless the works are of a type specified in a notice published under subsection (3). (5) A cladding rectification agreement must— (a) be in writing; and (b) outline the works to be undertaken on the rateable land; and (c) provide for the lending body to advance specified funds to conduct the works; and (d) provide for the Council to levy a cladding rectification charge on the rateable land; and (e) provide for the Council to use the money received under the cladding rectification charge— (i) to repay the lending body the principal amount advanced plus any agreed interest accrued since that advance; and (ii) for any agreed administrative charge to be retained by the Council. S. 185J inserted by No. 46/2018 s. 79.