Queensland Consolidated Regulations
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BODY CORPORATE AND COMMUNITY MANAGEMENT (STANDARD MODULE) REGULATION 2008 - REG 180
Insurance for buildings with common walls
180 Insurance for buildings with common walls
(1) This section applies if—
(a) 1 or more of the lots included in the
community titles scheme are created under a standard format plan of
(b) in 1 or more cases, a building on 1 lot has a common
wall with a building on an adjoining lot.
(2) The body corporate must insure
each building mentioned in subsection (1) (b) for its full replacement value.
(3) A policy of insurance taken out under this section—
(a) must cover—
(i) damage; and
(ii) costs incidental to the reinstatement or replacement of
the buildings, including the cost of taking away debris and the fees of
architects and other professional advisers; and
(b) must provide for the
reinstatement of the buildings to their condition when new; and
(c) may give
effect, in whole or part, to a voluntary insurance scheme.
(4) The body
corporate is liable to pay any contribution that has to be made to the cost of
reinstatement or repair because the reinstatement insurance is not for the
full replacement value of the insured property.
(5) The body corporate need
not insure a building or a part of a building under subsection (2) if—
the scheme is a subsidiary scheme for another community titles scheme (the
"other scheme" ); and
(b) under subsection (2) , or an equivalent provision
of another regulation module, the body corporate for the other scheme is
required to insure the building or the part of the building.
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