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.