New South Wales Consolidated Acts
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STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 172
Exemption by Tribunal from building insurance requirements
172 Exemption by Tribunal from building insurance requirements
(1) The Tribunal may, on application by a person required by this Part to
insure a building or structure, by order exempt the applicant--
compliance with the requirements to insure unconditionally, or
(b) with the
written consent of the applicant, from compliance with those requirements
subject to a condition that the applicant takes out insurance for the building
that is specified in the order.
(2) The Tribunal must not make an order
(a) it is of the opinion that compliance with the requirements to
insure is unnecessary or impracticable, and
(b) each other person required to
insure the building has consented in writing to the making of the order or
has, before the making of the order, been given an opportunity to make
representations to the Tribunal with respect to the application for the order.
(3) An owners corporation may apply for an order, or give a consent for the
purposes of this section, only in accordance with a unanimous resolution.
If an owners corporation is required by a positive covenant to insure the
building, an order must not be made until--
(a) at least 21 days after the
Tribunal has given notice to the authority having the benefit of the covenant
of the intention to make the order, and
(b) the Tribunal has considered any
representations made during the 21-day period to the Tribunal by the authority
in relation to the intended order.
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