STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 210A Cancellation of building bond
STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 210A
Cancellation of building bond210A Cancellation of building bond
The Secretary may provide to a developer any release necessary to enable a building bond for building work provided by the developer to be cancelled--
(a) if an interim report on the building work does not identify any defective building work and the Secretary thinks it appropriate in the circumstances of the case to enable the building bond to be cancelled, or
(b) on application by the developer, with the agreement of the owners corporation, if part of the amount secured by the building bond has been claimed or realised by the Secretary, or
(c) in any other circumstances specified in the regulations.