New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 22

22 Special condition requiring professional indemnity insurance

(1) The regulations may make provision for or with respect to requiring the holder of a licence to be insured under a policy of professional indemnity insurance in force with respect to the licensee or his or her employer. It is a condition of a licence that the holder of the licence be insured as required by any such regulations.

(2) In particular, the regulations may require that the policy of insurance be a policy, or a policy of a kind, that is approved by the Minister for the time being by order published in the Gazette.

(3) An order may provide that a policy is an approved policy if the policy complies with either or both of the following--

(a) the policy complies with the conditions set out in the order,

(b) the policy is described in the order by reference to the insurer and the number of the policy or is identified in the order by other specified particulars.