Office Circular No 3-1999
18 October 1999
Subject: Strata Titles (Insurance) Regulations 1999
Section 101(1) of the Strata Titles Act 1998 states that a body corporate must maintain public risk insurance over the common property for an amount at least equal to a minimum prescribed by regulation.
The Strata Titles (Insurance) Regulations 1999 (No. 89 of 1999) which came into effect on 22 September 1999 prescribed that minimum amount at $5,000,000 (Five Million Dollars).
Recorder of Titles