New South Wales Consolidated Acts New South Wales Consolidated ActsThe Secretary may provide to a developer any release necessary to enable a building bond for building work provided by the developer to be cancelled--
(a) if an interim report on the building work does not identify any defective building work and the Secretary thinks it appropriate in the circumstances of the case to enable the building bond to be cancelled, or
(b) on application by the developer, with the agreement of the owners corporation, if part of the amount secured by the building bond has been claimed or realised by the Secretary, or
(c) in any other circumstances specified in the regulations.