Section 43

In this Part, unless the context otherwise requires —

“chargee” means a chargee who, by virtue of subsection (2) of section 44, has an insurable interest in the property covered by a principal insurance policy;

“insurer” means an insurer in respect of a principal insurance policy;

“principal insurance policy”, in relation to the units and common property shown on a strata plan, means the policy of insurance effected by the relevant strata corporation in accordance with paragraph (b) of section 30.

Principal insurance policy.