Victorian Numbered Acts Victorian Numbered Acts(1) In section 24(a) of the Professional Standards Act 2003 omit "at the time at which the act or omission giving rise to the cause of action occurred".
(2) For section 24(b)(ii) of the Professional Standards Act 2003 substitute —
"(ii) the net current market value of the business assets and the amount payable under the policy in respect of that occupational liability, 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—".