Queensland Consolidated Acts Queensland Consolidated Acts(1) A building contractor who carries out speculative residential construction work is not entitled to indemnity under the statutory insurance scheme for the work.
(2) Where a person has entered into 1 or more building contracts, in force at the same time, to construct 3 or more living units, the person is not entitled to indemnity under the statutory insurance scheme for the work.
(3) For subsection (2)--
(a) a single detached dwelling is taken to be 1 living unit; and
(b) a residential unit is taken to be 1 living unit; and
(c) a duplex is taken to be 2 living units.
(4) A policy of insurance for residential construction work, in the terms stated in the board's policies, may include other circumstances in which a person is not entitled to indemnity under the statutory insurance scheme.
(5) Nothing in this section affects the right of a subsequent owner of residential construction work mentioned in this section to claim indemnity under the statutory insurance scheme.