s 53
In forceBody corporate policy must provide for reinstatement
Chapter 2Basic operation of a scheme
Part 2.3Key elements of a scheme
Division 3Scheme land
Subdivision 6Insurance of scheme land
53 Body corporate policy must provide for reinstatement
(1) The body corporate policy must insure against all reasonable costs for the reinstatement of any damaged common property (including any damaged scheme building that is common property).
(2) The reinstatement of the damaged common property is work that is reasonably required for restoring it to substantially the same condition as existed immediately before it was damaged.
Examples for subsection (2)
1 Work required for clearing debris.
2 Work undertaken by an architect and building contractors for rebuilding scheme buildings.
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