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Unit Title Schemes Act 2009
52Body corporate policy
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52 Body corporate policy (1) The body corporate of a scheme: (a) has an insurable interest in the scheme land; and (b) must ensure there is an insurance policy (body corporate policy) for the common property that complies with sections 53 to 55 (whether comprising 1 or more contracts of insurance). (2) The body corporate must comply with subsection (1)(b). (3) It is a defence to a prosecution for an offence against subsection (2) if the defendant establishes a reasonable excuse.