(1) The Governor in Council may make regulations for or with respect to—
(a) regulating and requiring the taking out of insurance by an owners corporation and lot owners of an owners corporation including but not limited to—
(i) prescribing terms to be contained in insurance policies in relation to lots or common property; and
(ii) requiring the noting of mortgagees’ interests on insurance policies taken out by owners corporations; and
(iii) prescribing the manner of indexing the sum insured for any particular class of insurance; and
(iv) prescribing approved insurers;
(b) requiring documents or information required to be kept under this Act to be lodged with the Registrar of Titles;
(c) requiring records or registers to be kept and prescribing the content and manner of keeping records or registers under this Act or the regulations;
(d) prescribing model rules for the purposes of this Act;
S. 204(1)(da) inserted by No. 33/2014 s. 8(1).
(da) prescribing fees generally under this Act;
S. 204(1)(db) inserted by No. 33/2014 s. 8(1).
(db) prescribing the fees that may be imposed by an owners corporation for the provision of an owners corporation certificate;
(e) providing for any other matter that is authorised or required to be prescribed or necessary to be prescribed to carry out this Act.
(2) The regulations may—
(a) differ according to differences in time, place and circumstance; and
(b) leave any matter to be determined by the Director or the Authority.
(3) The regulations may apply, adopt or incorporate any document, code, standard, rule, specification or method formulated, issued, prescribed or published by any authority or body whether—
(a) wholly or partially or as amended by the regulations; or
(b) as formulated, issued, prescribed or published at the time the regulations are made or at any time before then; or
(c) as formulated, issued, prescribed or published from time to time.
S. 204(4) inserted by No. 33/2014 s. 8(2).
(4) A power conferred by subsection (1) to make regulations providing for the imposition of fees for the provision of an owners corporation certificate may be exercised by providing for all or any of the following matters—
(a) specific fees;
(b) maximum fees;
(c) minimum fees;
(d) fees that vary according to value, time, complexity or urgency;
(e) fees that vary based on the number and regularity of requests made by a person;
(f) differential fees for different classes of request or based on the number of lots in a property.
S. 205 (Heading) amended by No. 36/2011 s. 13(1).