Australian Capital Territory Current Acts

UNIT TITLES ACT 2001 - SECT 152

A building damage scheme for a units plan is a scheme for—

        (a)     the reinstatement of any building on the parcel that is damaged or destroyed; and

        (b)     the elimination of any class A unit that is damaged or destroyed (unless the units plan has fewer than 3 units or the unit is to be reinstated); and

Note     A damaged or destroyed class A unit in a 2-unit units plan cannot be eliminated as only 1 unit would remain in the units plan. In this circumstance, if an owners corporation seeks to cancel the units plan, it must apply for the cancellation under s 160.

        (c)     the consequential amendment of the units plan; and

        (d)     the application of any insurance amount paid (or payable) for the damage or destruction to any building on the parcel; and

        (e)     the payment of compensation (or other money) to the owner of any unit, and anyone else who may be adversely affected by the scheme.