Strata Management Act 2013 · s 95

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95.
Insurance where area cannot be separated from main premises of building
(1)	 Where any limited common property is maintained and managed by a subsidiary management corporation, and the areas maintained and managed by the subsidiary management corporation

Strata Management 105
cannot be separated from the main premises of the building maintained or managed by the management corporation—
(a)	 the management corporation shall insure the building under a damage policy; and
(b)	 the premiums paid for such insurance shall be apportioned between the subsidiary management corporation and the management corporation in accordance with the share units of the proprietors constituting the subsidiary management corporation against the aggregate share units of the proprietors constituting the management corporation.
(2)	 For the purpose of this section, “cannot be separated from the main premises of the building” means that the area maintained and managed by the subsidiary management corporation does not exist as an independent structure, and any damage to the structure or its facilities will materially affect the existence or usability of all other structures within its vicinity.

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s 95Insurance where area cannot be separated from main premises of building

(1)

Where any limited common property is maintained and managed by a subsidiary management corporation, and the areas maintained and managed by the subsidiary management corporation

Strata Management 105

cannot be separated from the main premises of the building maintained or managed by the management corporation—

(a)

the management corporation shall insure the building under a damage policy; and

(b)

the premiums paid for such insurance shall be apportioned between the subsidiary management corporation and the management corporation in accordance with the share units of the proprietors constituting the subsidiary management corporation against the aggregate share units of the proprietors constituting the management corporation.

(2)

For the purpose of this section, “cannot be separated from the main premises of the building” means that the area maintained and managed by the subsidiary management corporation does not exist as an independent structure, and any damage to the structure or its facilities will materially affect the existence or usability of all other structures within its vicinity.