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Chapter: | 344B
 | Title: | BUILDING MANAGEMENT (THIRD PARTY RISKS INSURANCE) REGULATION | Gazette Number: | L.N. 146 of 2007; L.N. 64 of 2009 |
| Section: | 5 | Heading: | Issue of policy and notice of insurance | Version Date: | 01/01/2011 |
(1) If a corporation has procured a policy with an insurance company, the insurance company shall, at the same time as it issues the policy to the corporation, issue to the corporation in respect of the policy a notice of insurance, in the Form in the Schedule, duly completed by the insurance company.
(2) An insurance company shall not issue a notice of insurance which is to its knowledge false in any material particular.
(3) A corporation shall¡X
- (a) as soon as practicable after being issued a notice of insurance in respect of a policy, display the notice in a prominent place in the building to which the policy relates; and
(b) so display the notice as long as the policy is in effect.
(5) If a notice of insurance has been lost or destroyed, the corporation to which the notice is issued shall cause a statutory declaration to be made by the chairman, vice-chairman (if any) or secretary of the management committee to that effect.
(6) An insurance company that contravenes subsection (1) or (2) commits an offence and is liable on conviction to a fine at level 2.
(7) If a corporation contravenes subsection (3), (4) or (5), every member of the management committee is guilty of an offence and is liable on conviction to a fine at level 1. (L.N. 210 of 2007)
(8) In any proceedings for an offence under subsection (7), it is a defence for the person charged to prove¡X
- (a) that the contravention was committed without his consent or connivance; and
(b) that he exercised all such due diligence to prevent the contravention as he ought to have exercised in the circumstances.