COMMUNITY LAND MANAGEMENT ACT 1989 - SECT 39
Insurance against damage or destruction
COMMUNITY LAND MANAGEMENT ACT 1989 - SECT 39
Insurance against damage or destruction
39 Insurance against damage or destruction
(1) An association is guilty of an offence if any building or structure on its
association property is not at all times fully insured, with an insurer
approved by the Minister, against damage or destruction by fire, lightning,
explosion or other prescribed risk.
: Maximum penalty--5 penalty units.
(1A)
Any such building or structure is to be insured for not less than the amount
determined in accordance with the regulations.
(2) Subsection (1) does not
apply to an association to the extent that an Adjudicator exempts it from the
operation of the subsection (whether or not subject to conditions) on
application authorised by a unanimous resolution.
