BUILDING UNITS AND GROUP TITLES ACT 1980 - SECT 55 Insurance of buildings and common property
BUILDING UNITS AND GROUP TITLES ACT 1980 - SECT 55
Insurance of buildings and common property55 Insurance of buildings and common property
The body corporate shall insure and keep insured—
(a) the common property including any improvements thereon; and
(b) in the case of a building units plan, the building;under a damage policy to the reinstatement or replacement value thereof.