Queensland Subordinate Legislation as Made Queensland Subordinate Legislation as Made(1) This section applies if—
(a) a community titles scheme changes from being a scheme to which a previous regulation applied to being a specified two-lot scheme to which this regulation applies; and
(b) immediately before the changeover day, the body corporate for the scheme held a policy of insurance that was in force.
(2) To the extent the policy of insurance complied with the requirements under a previous regulation, the policy is taken to comply with chapter 6, part 9.
(3) Subsection (2) applies only until the policy is first renewed after the changeover day.