sec.120Insurance by primary thoroughfare body corporate

sec.120 Insurance by primary thoroughfare body corporate

The primary thoroughfare body corporate shall effect insurance— in respect of any occurrence against which it is required by law to insure, including any insurance required to be effected because of the Workers’ Compensation and Rehabilitation Act 2003 ; and in respect of damage to property, death or bodily injury happening on or in relation to— the primary thoroughfare; or a road closed in strata leased under section 114 (1) ; or a wharf leased under section 114 (1) ; or land leased under section 114 (2) and any improvements on the land; or the consequences resulting from such damage; and against the possibility of the members becoming jointly liable by reason of a claim arising in respect of any other occurrence against which the primary thoroughfare body corporate, pursuant to a special resolution, decides to insure. Insurance effected pursuant to subsection (1) (b) shall be for a cover of the amount prescribed by regulation or, if not prescribed, $5000000. The primary thoroughfare body corporate may insure any property in which it has an insurable interest. s 120 amd 1991 No. 94 s 24 ; 1993 No. 46 s 3 sch ; 1996 No. 75 s 535 sch 2 ; 2003 No. 27 s 622 sch 5 (sec.120-ssec.1) The primary thoroughfare body corporate shall effect insurance— in respect of any occurrence against which it is required by law to insure, including any insurance required to be effected because of the Workers’ Compensation and Rehabilitation Act 2003 ; and in respect of damage to property, death or bodily injury happening on or in relation to— the primary thoroughfare; or a road closed in strata leased under section 114 (1) ; or a wharf leased under section 114 (1) ; or land leased under section 114 (2) and any improvements on the land; or the consequences resulting from such damage; and against the possibility of the members becoming jointly liable by reason of a claim arising in respect of any other occurrence against which the primary thoroughfare body corporate, pursuant to a special resolution, decides to insure. (sec.120-ssec.2) Insurance effected pursuant to subsection (1) (b) shall be for a cover of the amount prescribed by regulation or, if not prescribed, $5000000. (sec.120-ssec.3) The primary thoroughfare body corporate may insure any property in which it has an insurable interest.

• (a) in respect of any occurrence against which it is required by law to insure, including any insurance required to be effected because of the Workers’ Compensation and Rehabilitation Act 2003 ; and
• (b) in respect of damage to property, death or bodily injury happening on or in relation to— (i) the primary thoroughfare; or (ii) a road closed in strata leased under section 114 (1) ; or (iii) a wharf leased under section 114 (1) ; or (iv) land leased under section 114 (2) and any improvements on the land;