New South Wales Repealed Regulations New South Wales Repealed RegulationsThis legislation has been repealed.
(1) For the purposes of clause 8 of Schedule 1BA to the Act, a policy of indemnity must indemnify the developer against at least the following:(a) contract works claims up to a value at least equivalent to the cover provided by the body corporate's damage policy maintained under section 83 or 84 of the Strata Schemes Management Act 1996 , subject only to such deductibles, exclusions and other terms and conditions as are reasonable and appropriate for contract works insurance,(b) public liability claims up to a value of at least $10,000,000, subject only to such deductibles, exclusions and other terms and conditions as are reasonable and appropriate for public liability insurance.
(2) This clause does not affect any obligation of a developer to effect and maintain insurance required by or under any other law, such as the Workers Compensation Act 1987 .
(3) In this clause:
"contract works claim" means a claim for accidental damage to buildings and works for the time being forming part of the parcel (including buildings erected and works carried out under the strata development contract), arising out of or resulting from the carrying out of the permitted development.
"public liability claim" means a claim for damages because of deaths or personal injuries for which the developer is liable as an occupier of the parcel.