New South Wales Consolidated Regulations

HOME BUILDING REGULATION 2014 - REG 62ZZD

62ZZD Contracts of insurance must be securely held by licence holders

(1) For the purposes of sections 102 (7) and 105V (1) (a) of the Act, a licence holder must keep--

(a) a copy of each contract of insurance under Part 6 to which the licence holder is a party, and

(b) a copy of each contract or arrangement (including any trust deed of a fidelity fund scheme) to provide alternative indemnity product cover by means of an alternative indemnity product to which the licence holder is a party or of which the licence holder is the provider, and

(c) a copy of the most recent certificate evidencing insurance or cover by means of an alternative indemnity product, and

(d) in the case of a licence holder that is a provider of an alternative indemnity product that is a fidelity fund scheme--a copy of the trust deed for the fidelity fund scheme.

(2) The contracts must be kept (in either hard copy or electronic form) so that they can only be accessed by persons who have been authorised by the licence holder to access them.

: Maximum penalty--200 penalty units in the case of a corporation or 100 penalty units, in any other case.