Section 88
Insurable interest
of Strata Management Ordinance, 2019
State OrdinanceIn forceProvision 84 of 137
Section 88
A joint management body, management corporation or subsidiary management corporation, including a property manager or managing agent appointed under section 76(1), 76(4) or 80(3)
shall be deemed—
(a)
for the purposes of effecting any insurance under section 82(1), to have an insurable interest in the building equal to the amount to be insured under section 83(1); and
(b)
for the purposes of effecting any insurance under section 87, to have an insurable interest in the subject matter of the insurance.
Obligation to rebuild