Queensland Consolidated Acts

INTEGRATED RESORT DEVELOPMENT ACT 1987 - SECT 120

120 Insurance by primary thoroughfare body corporate

(1) The primary thoroughfare body corporate shall effect insurance—

(a) in respect of any occurrence against which it is required by law to insure, including any insurance required to be effected because of the Workers’ Compensation and Rehabilitation Act 2003 ; and

(b) in respect of damage to property, death or bodily injury happening on or in relation to—

(i) the primary thoroughfare; or

(ii) a road closed in strata leased under section 114 (1) ; or

(iii) a wharf leased under section 114 (1) ; or

(iv) land leased under section 114 (2) and any improvements on the land;

or the consequences resulting from such damage; and

(c) against the possibility of the members becoming jointly liable by reason of a claim arising in respect of any other occurrence against which the primary thoroughfare body corporate, pursuant to a special resolution, decides to insure.

(2) Insurance effected pursuant to subsection (1) (b) shall be for a cover of the amount prescribed by regulation or, if not prescribed, $5000000.

(3) The primary thoroughfare body corporate may insure any property in which it has an insurable interest.