New South Wales Consolidated Regulations

STRATA SCHEMES MANAGEMENT REGULATION 2016 - REG 52

52 Additional documents to be lodged with building bond

(1) A developer must, when giving a building bond to the Secretary, also give the Secretary the following documents and information, in the manner approved by the Secretary--

(a) a lodgment form in the approved form,

(b) the strata plan number of the strata scheme concerned,

(c) the street address of any building to which the bond relates,

(d) the name and address of the principal certifying authority for any building work to which the bond relates,

(e) an address for service for the developer,

(f) an address for service for the owners corporation for the strata scheme,

(g) a copy of any documents relevant to the determination of the contract price used to calculate the amount required to be secured by the building bond (including, if applicable, the quantity surveyor's cost report referred to in clause 50(2A)),

(h) the documents set out in clause 46A(1)(b) relating to the building work.

(2) Without limiting subclause (1)(g) and (h), the Secretary may, by notice in writing given to the developer, require the developer to provide any additional information or documents that the Secretary considers necessary to substantiate the contract price used to calculate the amount required to be secured by the building bond.

(3) The developer must not, without reasonable excuse, fail to comply with the notice.

: Maximum penalty (subclauses (1) and (3))--200 penalty units in the case of a corporation and 100 penalty units in any other case.