New South Wales Consolidated Acts

STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 211AC

211AC Exemption from other statutory insurance requirement

(1) A regulation may exempt a person from complying with the Home Building Act 1989 , section 92 or 96, or both, in relation to building work if a developer has notified the Secretary of the developer's intention to obtain decennial insurance for the building work.

(2) The regulation may--

(a) provide that the exemption is subject to specified conditions, and

(b) require the developer to give information to specified persons, including specifying the way and time within which the information must be given, and

(c) provide that the Secretary may require information be given by the developer to specified persons, including that the Secretary may--

(i) require information be included in contracts for purchase or in disclosure to potential purchasers before exchange of contracts, and

(ii) specify the way and time within which the information must be given, and

(d) if a regulation is made under subsection (1)--extend the application of a provision of this division that applies to the Secretary under this Act to the Secretary under the Home Building Act 1989 , and

(e) make other provision about the exemption and the provision of information.