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BUILDING UNITS AND GROUP TITLES ACT 1980 - SECT 54
Interpretation
54 Interpretation
(1) In this division—
"building" , in relation to a building units plan, means a building or
buildings shown on the plan, but does not include a proprietor’s fixture.
"damage policy" , in relation to a building or the common property including
improvements thereon, means a contract of insurance providing, in the event of
the building or the common property including improvements thereon being
destroyed or damaged by fire, storm, tempest, explosion or any other
occurrence specified in the policy— (a) for— (i) the rebuilding of the
building or the common property including improvements thereon or its
replacement by a similar building or the common property including
improvements thereon in the event of its destruction; and
(ii) the repair of
damage to or the restoration of the damaged portion of the building or the
common property including improvements thereon in the event of its being
damaged but not destroyed;
so that, in the case of destruction, every part of
the rebuilt building or the common property including improvements thereon or
the replacement building or the common property including improvements thereon
and, in the case of damage, the repaired or restored portion, is in a
condition no worse nor less extensive than that part or portion or its
condition when that part or portion was new; and
(b) for the payment of
expenses incurred in the removal of debris and the remuneration of architects
and other persons whose services are necessary as an incident to the
rebuilding, replacement, repair or restoration.
"proprietor’s fixture" means a structure or fixture made after the
registration of the building units plan forming part of a building, being a
structure or fixture— (a) which is exclusively for the use and enjoyment of
a lot within or partly within that building but not being a floor, wall or
ceiling; and
(b) which— (i) is not made for the necessary renewal or
replacement of a structure or fixture made before the registration of the
plan; or
(ii) replaces a structure or fixture made before the registration of
the plan and is of greater value than the necessary replacement of and of a
like nature to the structure or fixture replaced.
(2) A damage policy may
provide that, instead of the work and the payments specified in the definition
of
"damage policy" in subsection (1) being carried out or made upon the
occurrence of any of the events specified in that definition, the liability of
the insurer shall, upon the occurrence of any such event, be limited to an
amount specified in the policy.
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