New South Wales Consolidated Acts

LEGAL PROFESSION UNIFORM LAW APPLICATION ACT 2014 - SECT 95

95 Approved insurance policy

(1) A policy of professional indemnity insurance that complies with this section is an approved insurance policy for this jurisdiction for the purposes of Part 4.4 of the Legal Profession Uniform Law (NSW) in relation to an entity that--

(a) is required to hold or be covered by an approved policy of professional indemnity insurance, and

(b) is of a class of entities to which an order under subsection (2) applies.

(2) A policy of professional indemnity insurance complies with this section if--

(a) the Attorney General has, by order in writing (given to the Bar Council in the case of professional indemnity insurance for a barrister or to the Law Society Council in any other case), approved of--

(i) the type of policy, and

(ii) the level of insurance provided by the policy, and

(iii) the terms and conditions of the policy, and

(c) the policy is not to expire before the expiration of the term of the Australian practising certificate of the entity to whom the policy relates.

(3) An order may apply to a class or classes of those entities. An order that does not expressly or impliedly apply to any particular class of entities is taken to apply to all classes of entities.

(3A) If any terms or conditions imposed by an order are not complied with by the insurer or provider that issued the policy--

(a) the order may be amended to prohibit or restrict the future issue of policies by the insurer or provider or in any other manner the Attorney General considers appropriate in the circumstances, and

(b) the Attorney General may take into account any failure to comply by the insurer or provider when deciding whether to approve future policies issued by that insurer or provider.

(3B) Nothing in subsection (3A) limits any other power of the Attorney General.

(4) This section applies despite anything to the contrary in section 210(1) of the Legal Profession Uniform Law (NSW) .