Western Australian Current Regulations Western Australian Current Regulations (1) For the purposes
of section 100(7)(b), a designated strata company includes the following
—
(a) a
strata company for a strata scheme that has a scheme building replacement cost
of more than $5 000 000;
(b) a
strata company for a survey‑strata scheme if the replacement cost of the
improvements on the common property is more than $5 000 000.
(2) The replacement
cost of a thing is the reasonable cost of rebuilding, replacing or repairing
the thing to a condition which is equivalent to or substantially the same as
(but not better or more extensive than) when it was new.