Western Australian Current Acts

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53D .         Strata company’s obligations where it has an insurance function in single tier strata schemes

        (1)         This section applies where —

            (a)         a determination is in force under section 53B(2); or

            (b)         in accordance with section 53C, a strata company has the obligations described in subsection (1) of that section.

        (2)         This section also applies where a strata company makes a determination to insure common property that it is not obliged to insure by reason of section 53C(2)(a).

        (3)         In those cases the strata company shall —

            (a)         insure and keep insured any building to which its obligation extends to the replacement value against fire, storm and tempest (excluding damage by sea, flood or erosion), lightning, explosion and earthquake; and

            (b)         effect and maintain insurance in respect of damage to property, death, or bodily injury for not less than $5 000 000 or such other amount as may be prescribed in place of that amount.

        Penalty: $400.

        (4)         Section 54(2) and (3) apply to a strata company’s obligations under subsection (3) as if they referred to that subsection.

        [Section 53D inserted: No. 61 of 1996 s. 25.]

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