Victorian Consolidated Legislation

Building Act 1993 - SECT 22

Guarantees and bonds

22. Guarantees and bonds



In prescribed circumstances, a building permit may be issued subject to a
condition that the applicant deposit with the relevant council or, in the case
of a permit issued by a private building surveyor, with the Commission-

   (a)  a bond for an amount determined in accordance with the regulations; or

(b) an undertaking to pay that amount together with a guarantee provided by a
body that is permitted to use the expression "bank" under section 66 of the
Banking Act 1959 of the Commonwealth-

to secure the complete and satisfactory carrying out of the work authorised by
the building permit.