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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 property

55 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.