New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 131

131 Manager may be reimbursed for damages

(1) The Secretary may reimburse a manager for any damages and costs recovered against the manager, or an employee or agent of the manager, for anything done or omitted to be done in good faith in the purported exercise of a function under this Act.

(2) Reimbursement under this section is to be by way of payment from the Operating Account.

(3) Neither the manager of a licensee's business nor the Secretary is liable for any loss incurred by the licensee as a consequence of any act or omission of the manager or the Secretary in the conduct of the business if the act or omission was done or omitted in good faith and in the purported exercise of a function under this Act.