41Licensee required to insure

41 Licensee required to insure (1) A licensee must not carry out any conveyancing work unless the licensee is covered by professional indemnity insurance in accordance with this section. (2) The insurance required by this section must satisfy the conditions and requirements specified under subsection (3). (3) The Minister may, by order published in the Government Gazette, specify the required insurance and the conditions and requirements that the insurance is to satisfy, including the minimum level of cover provided. (4) The insurance, conditions and requirements specified under subsection (3) may vary according to classes of licensees or conveyancing work or other circumstances.