@M S said:(b) If there is a flood and damage occurs, what would the OC obligations be to individual owners?
If any damage occurs that is not covered by the insurance the Owners Corp will have to foot the bill for all the repairs to common property. You will need contents insurance to cover your personnel items in the property.
If there is not enough money in the OC funds then a special levy would be raised from ALL owners (even if damage is limited to only 1 unit) to pay for the repairs. OC could not vote to refuse to repair the common property as they are legally obliged to repair common property.
I’m not sure of the situation regarding fixtures and fitting within the property (fitted kitchens, internal doors, bathrooms, etc) as these are not considered common property but would have been covered under the building insurance policy. I suspect the OC would be liable as it’s due to their negligence that insurance was not provided that would have covered these thing.