(1) Any covenant, term, condition, or other provision of a contract or other agreement is void to the extent that it purports to exclude or limit the liability of an insurer under a contract of insurance in the event of any driver and vehicle sanction pursuant to a direction of the Director given to VicRoads under this Act.
(2) Subsection (1) applies to a contract of insurance whether entered into before, on or after the commencement of this Part.