42   Building on association property

(1)  Money paid by an insurer to an association in respect of the destruction of, or damage to, a building on association property must, without delay, be applied by the association in rebuilding, replacing, repairing or restoring the building.

(2)  Subsection (1) has effect subject to any order in force under Part 7 of the Community Land Development Act 1989 (which relates to variation or termination of a scheme).