sch.6-sec.37Common property limit

### sch.6-sec.37 Common property limit The maximum amount the commission may pay for the common property for a community titles scheme for the total of all claims mentioned in sections 7 , 9 , 10 , 15 and 20 in relation to residential construction work is— if optional additional cover is in force for the work—the lesser of the following— $300,000 multiplied by the number of living units for which the work was carried out; $1.3m; or if paragraph (a) does not apply—the lesser of the following— $200,000 multiplied by the number of living units for which the work was carried out; $1m. The amount mentioned in subsection (1) applies regardless of whether the residential construction work is substantially complete or not substantially complete. (sch.6-sec.37-ssec.1) The maximum amount the commission may pay for the common property for a community titles scheme for the total of all claims mentioned in sections 7 , 9 , 10 , 15 and 20 in relation to residential construction work is— if optional additional cover is in force for the work—the lesser of the following— $300,000 multiplied by the number of living units for which the work was carried out; $1.3m; or if paragraph (a) does not apply—the lesser of the following— $200,000 multiplied by the number of living units for which the work was carried out; $1m. (sch.6-sec.37-ssec.2) The amount mentioned in subsection (1) applies regardless of whether the residential construction work is substantially complete or not substantially complete. - (a) if optional additional cover is in force for the work—the lesser of the following— (i) $300,000 multiplied by the number of living units for which the work was carried out; (ii) $1.3m; or - (i) $300,000 multiplied by the number of living units for which the work was carried out; - (ii) $1.3m; or - (b) if paragraph (a) does not apply—the lesser of the following— (i) $200,000 multiplied by the number of living units for which the work was carried out; (ii) $1m. - (i) $200,000 multiplied by the number of living units for which the work was carried out; - (ii) $1m. - (i) $300,000 multiplied by the number of living units for which the work was carried out; - (ii) $1.3m; or - (i) $200,000 multiplied by the number of living units for which the work was carried out; - (ii) $1m.