11Definitions

11 Definitions

11 Definitions

In this Part—

expiry date, for a professional indemnity policy, means the date specified in the policy as the policy’s expiry date.

insured person means the individual or body corporate to whom the professional indemnity policy is issued.

liability of a registered certifier means liability to pay compensatory damages for breach of professional duty as a registered certifier arising from—

(a) any act or omission of the registered certifier, or

(b) any conduct of the registered certifier that would constitute a breach of any of the following provisions or any failure by the registered certifier to comply with a guarantee that applies because of any of the following provisions—

(i) section 18, 29 or 30 or Subdivision B of Division 1 of Part 3–2 of the Australian Consumer Law of the Commonwealth,

(ii) any provision of the legislation of this or any other State or Territory that corresponds to a provision referred to in subparagraph (i).

professional indemnity policy means an insurance policy that complies with the provisions of this Part and that indemnifies an individual, body corporate or partnership against the liability of registered certifiers covered by the policy.

registered employee of a body corporate or partnership means an employee of the body corporate or partnership who is a registered individual.

registered partner of a partnership means a partner in the partnership who is a registered individual.