Monday, September 28, 2020

Strata Schemes Management Regulation 2016

Part 8
Clause 54

Use of building bond to meet costs of inspections or report | Clause 54

For the purposes of section 210 of the Act, an amount secured by a building bond may be used to meet the costs of an inspection or a report under Division 2 of Part 11 of the Act, including any fee for the appointment of a building inspector by the Secretary, if—

(a)  the developer of the strata scheme is bankrupt or insolvent and the costs or any fee have not been paid, or

(b)  the developer of the strata scheme is dead or cannot be found or failed to comply with any requirement to appoint a building inspector.

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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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