Hi CE

Generally speaking the law does not require
the upgrade of buildings which do not comply with the BCA or some other code
because they were built prior to such standards coming into force (with the
exception of matters which present an immediate danger to person or property eg fire safety defects which might be made the subject of a fire
safety order requiring work to be completed within a set time).

However, in the event some Council approval
is sought (eg for work to common property), then Council may make it a
condition of approval that at least some non-complying elements of the common
property must be upgraded.

To answer your question regarding insurance
coverage I would need to review the relevant policy held by the OC.

The extent of an OC's liability will depend
upon the nature of the potential loss incurred and particular circumstances out
of which that loss occured. 

It is prudent to conduct yearly work safety inspections of the common property and act on any recommendations made following
such inspections. This will avoid any potential liability for fines which
might not be covered by the D & O policy held by executive committee
members (if a D & O policy is not held, it should be).

I hope the above clarifies matters.

Regards

Chris Kerin

TEYS Lawyers

chris@teyslawyers.com.au