Tuesday, September 22, 2020

Owners Corporation Act 2006

Part 3
Division 6
Section 61

Insurance for lots in multi-level developments | Section 61

(1)     If a building on a plan of subdivision is located above or below common property, a reserve or a lot, the owners corporation must take out the following insurance in respect of all lots in the plan—

(a)     reinstatement and replacement insurance for all buildings on each lot in accordance with section 59; and

(b)     public liability insurance in accordance with section 60—

as if any reference in those sections to common property were a reference to those lots.

S. 61(2) substituted by No. 2/2008 s. 14.

(2)     Subsection (1) does not apply to—

(a)     a single-storey building; or

(b)     a plan of subdivision that was registered under the Cluster Titles Act 1974 or the Strata Titles Act 1967 unless one or more lots in the plan is located above another lot in the plan.

S. 62 amended by No. 2/2008 s. 12(3).

© State of Victoria (Consumer Affairs Victoria). For the latest information please go to https://www.legislation.vic.gov.au/in-force/acts/owners-corporations-act-2006/017

Disclaimer: Reproduced from the Owners Corporation Act 2006. This website does not give legal advice or other professional advice. You should seek legal or other professional advice before acting and not rely on any of the content on this website.

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