South Australian Numbered Acts South Australian Numbered Acts24—Limitation of liability by reference to amount of business assets
A scheme may provide that if a person to whom the scheme applies and against
whom a proceeding relating to occupational liability is brought is able to
satisfy the court—
(a) that
the person has business assets the net current market value of which is not
less than the amount of the monetary ceiling specified in the scheme in
relation to the class of person and the kind of work to which the cause of
action relates at the time at which the act or omission giving rise to the
cause of action occurred; or
(b)
that—
(i)
the person has business assets and the benefit of an
insurance policy that insures the person against that occupational liability;
and
(ii)
the net current market value of the business assets and
the amount payable under the insurance policy in respect of the occupational
liability relating to the cause of action (including any amount payable by the
person by way of excess under or in relation to the policy), if combined,
would total an amount that is not less than the amount of the monetary ceiling
specified in the scheme in relation to the class of person and the kind of
work to which the cause of action relates at the time at which the act or
omission giving rise to the cause of action occurred,
the person is not liable in damages in relation to that cause of action above
the amount of the monetary ceiling so specified.