Conveyancing Act 2004
13Requirement for professional indemnity insurance
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13 Requirement for professional indemnity insurance
(1) A person must, at all times when carrying on business as a conveyancer, be insured under a policy of professional indemnity insurance approved by the Director to a prescribed minimum amount.
(2) [Section 13 Subsection (2) substituted by No. 29 of 2022, s. 18, Applied:01 Jul 2023] A conveyancer's licence –
(a) that is issued and in force in accordance with Division 1 of Part 2 , is taken to be suspended for any period for which the conveyancer is not insured as required under subsection (1) ; or
(b) that is held by a person by virtue of holding deemed registration, is taken to be suspended for any period for which the conveyancer is not insured as required under subsection (1) .