(3) This Part does not apply to building work if the work is
subject to the requirement to obtain insurance under Part 6 of the
Home Building Act 1989in relation to the work or is not subject to that
requirement only because the contract price does not exceed the amount
referred to in section 92 (3) of the Home Building Act 1989 .
(4) The
regulations may prescribe additional building work to which this Part does not
apply.