111Registration holders must be indemnified

111 Registration holders must be indemnified

111 Registration holders must be indemnified

(1) The holder of a prescribed registration must, before carrying out registered work, be adequately insured.

Maximum penalty—

(a) for an individual—300 penalty units, or

(b) otherwise—1,500 penalty units.

(2) In this Act, a registration holder is adequately insured in relation to registered work if the registration holder—

(a) is indemnified by insurance—

(i) held by the registration holder or an employer of the registration holder, and

(ii) that complies with the regulations, or

(b) is part of another arrangement prescribed by the regulations.

(3) The regulations may specify circumstances in which some or all of the provisions of this section do not apply to a registration holder.

(4) It is a condition of registration that a registration holder, if required by the Secretary—

(a) must give the Secretary information that satisfies the Secretary that the registration holder is adequately insured in relation to registered work, and

(b) must give the information within the time required by the Secretary.

(5) In this section—

prescribed registration means a registration of a kind prescribed by the regulations.