Unit Title Schemes Act 2009

(1) The bodies corporate of the schemes mentioned in section 59(1)(a) may, each by a resolution without dissent, approve a reinstatement process for damaged scheme land.

(2) The reinstatement process has effect only:

(a) if all the bodies corporate approve the process under subsection (1);

and

(b) to the extent to which:

(i) the scheme land is insured by a body corporate policy; and

(ii) the insurer approves the process.

(3) In approving the reinstatement process, the bodies corporate may do anything reasonably required for its effective implementation, including, for

example:

(a) the application of an amount paid under a body corporate policy; or

(b) the payment of an amount to a body corporate, unit owner or mortgagee; or

(c) the lodging of a subsequent scheme statement to reflect the reinstatement.