Queensland Consolidated Acts
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BUILDING UNITS AND GROUP TITLES ACT 1980 - SECT 56
Further insurance by body corporate
(1) In addition to any insurance effected by a body corporate pursuant to
section 55 a body corporate shall effect insurance—
(a) in respect of any
occurrence against which it is required by law to insure, including any
insurance required to be effected because of the Workers’ Compensation and
Rehabilitation Act 2003 ; and
(b) in respect of the liability of the
body corporate for damage to property, death or bodily injury occurring upon
the common property; and
(c) against the possibility of the proprietors
becoming jointly liable by reason of a claim arising in respect of any other
occurrence against which the body corporate, pursuant to a special resolution,
decides to insure.
(2) Insurance effected pursuant to subsection (1) (b)
shall be for a cover of the prescribed amount or, if not prescribed, $500,000.
(3) The body corporate may insure any property which it is not required to
insure pursuant to this division and in which it has an insurable interest.
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