Western Australian Current Acts Western Australian Current Acts (1) A condition
imposed in relation to —
(a) the
eligibility of any person to hold a permit; or
(b) the
approval of a person as a nominee permit holder; or
(c) the
approval of premises; or
(d) the
issue of a permit or certificate,
may require that a
person lodge with the Commission, within such time as the Commission may
specify in the instrument imposing the condition or otherwise allow, security
by way of a bond, in a form acceptable to the Commission and executed by an
insurer acceptable to the Commission, conditioned upon the holder of the
approval, permit or certificate paying, applying and accounting for, duly and
according to law, moneys coming into his hands by the operation of this Act
and punctually complying with all duties and obligations imposed on him by law
in relation to those moneys or any approved premises.
(1a) A bond referred
to in subsection (1) shall provide that it enures during the term of the
approval, permit or certificate for which it is originally given and may also
provide that it enures during the term of any renewal granted to the same
person.
(2) Any bond lodged
with the Commission in relation to any approval, permit or certificate shall
be applied by the Commission in such circumstances, for such purposes and in
such manner as the Minister may direct, and may be discharged by the
Commission as to the whole or any part.
(3) A judge may, on
the application of the Commission and on being satisfied that any condition of
the bond has been broken, assign the bond to the Commission or to any other
person and the Commission or other person to whom the bond has been assigned
is or the executors or administrators of the estate of that other person are,
upon the assignment, entitled to sue upon the bond in his or their own name or
names, as if the bond had, in the first instance, been given to him or them
and also to receive, in trust for all persons interested, the full amount
recoverable in respect of the breach of a condition of the bond.
(4) Where a bond
enures in respect of the renewal or further renewal of an approval, a permit
or a certificate, the insurer may by notice in writing given to the Commission
determine its liability under the bond in respect of any act or default that
may be done or made after the current approval or permit expires.
(5) If, by reason of
non-payment of any premium, or any other act or omission of the holder of the
approval, permit or certificate, a bond lodged with the Commission ceases to
be in force during the term of the relevant approval, permit or certificate
the approval, permit or certificate is deemed to have been revoked until
another bond acceptable to the Commission is lodged.
(6) Where for any
reason related to the insurer a bond lodged with the Commission ceases to be
acceptable to the Commission, the approval, permit or certificate to which the
bond relates may be amended by the Commission so that its operation is
suspended until another bond acceptable to the Commission is lodged.
[Section 59 amended: No. 16 of 1990 s. 33.]