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Costs and expenses in respect of personal security assets and services.
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10.—The Principal Act is amended by inserting the following after section 118:
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“118A.—(1) In this section—
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‘asset’ includes equipment or a structure, but not any mode of transport or a dwelling or grounds appurtenant to a dwelling;
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‘service’ does not include a dwelling or grounds appurtenant to a dwelling.
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(2) This section applies where there is a credible and serious threat to a director's or an employee's personal physical security, which arises wholly or mainly because of the director's or employee's office or employment.
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(3) This section applies to expense incurred by the body corporate, or incurred by a director or employee and reimbursed to the director or employee by the body corporate—
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(a) in—
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(i) the provision or use of, or
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(ii) expenses connected with,
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an asset or service for the improvement of personal security which is provided for or used by the director or employee to meet the threat to his or her personal physical security, and
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(b) with the sole object of meeting that threat.
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(4) Subject to subsections (6) and (7), where this section applies, section 118(1) shall not apply to an expense to which this section applies.
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(5) Where the body corporate intends the asset to be used solely to improve personal physical security, any use of the asset incidental to that purpose shall be ignored.
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(6) Where the body corporate intends the asset to be used only partly to improve personal physical security, subsection (4) shall apply only to that part of the expense incurred in relation to the asset which is attributable to the intended use for that purpose.
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(7) Subsection (4) shall only apply to an expense incurred in relation to a service referred to in subsection (3) where the benefit resulting to the director or employee consists wholly or mainly of an improvement of his or her personal physical security.
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(8) In determining whether or not this section applies in relation to an asset or service, the fact that—
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(a) the asset becomes fixed to land (whether the land constitutes a dwelling or otherwise), or
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(b) the director or employee is, or becomes, entitled—
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(i) to the property in the asset, or
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(ii) if the asset is a fixture, to any estate or interest in the land concerned,
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or
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(c) the asset or the service improves the personal physical security of a member of the director's or employee's family or household, as well as that of the director or employee,
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does not exclude the expense incurred by the body corporate from coming within subsection (4).”.
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