The Policy extends to include property in Australia (to the extent that such property is not otherwise insured) belonging to Companies and/or other entities purchased or otherwise acquired and/or over which the Insured acquires direct or indirect managerial control and/or responsibility to arrange insurance during the currency of this Policy. Provided always that the business of the new acquisition shall be similar to the business stated in the schedule.
The Insured shall declare details of such acquisition or responsibility within a reasonable period following the date of acquisition of control and/or responsibility.