Sunday, September 27, 2020

Strata Schemes Management Act 2015 No 50

Part 9
Division 3
Section 172

Exemption by Tribunal from building insurance requirements | Section 172

(1)  The Tribunal may, on application by a person required by this Part to insure a building or structure, by order exempt the applicant—

(a)  from compliance with the requirements to insure unconditionally, or

(b)  with the written consent of the applicant, from compliance with those requirements subject to a condition that the applicant takes out insurance for the building that is specified in the order.

(2)  The Tribunal must not make an order unless—

(a)  it is of the opinion that compliance with the requirements to insure is unnecessary or impracticable, and

(b)  each other person required to insure the building has consented in writing to the making of the order or has, before the making of the order, been given an opportunity to make representations to the Tribunal with respect to the application for the order.

(3)  An owners corporation may apply for an order, or give a consent for the purposes of this section, only in accordance with a unanimous resolution.

(4)  If an owners corporation is required by a positive covenant to insure the building, an order must not be made until—

(a)  at least 21 days after the Tribunal has given notice to the authority having the benefit of the covenant of the intention to make the order, and

(b)  the Tribunal has considered any representations made during the 21-day period to the Tribunal by the authority in relation to the intended order.

© State of New South Wales Department of Customer Service. For current information go to www.nsw.gov.au.

Disclaimer: Reproduced from the Strata Schemes Management Act 2015 . 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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