94Insurance

#### 94 Insurance 94 Insurance (cf 2007 reg cl 76AM) > > (1) In this clause— > > > > required insurance, in respect of a person, means professional indemnity insurance and public liability insurance that— > > > > > (a) indemnify the person against any liability to pay compensatory damages arising from any act or omission of the person in the exercise of the functions of a licensed certifier under this Part, and > > > > > (b) satisfy any other requirements of Transport for NSW that are set out in an order of Transport for NSW that is published in the Gazette for the purposes of this clause. > > > (2) A licensed certifier must not hold out that the licensed certifier is covered by the required insurance unless the licensed certifier is covered by the required insurance. > > > > Maximum penalty—20 penalty units. > > > (3) A person must be covered by— > > > > > (a) the required insurance at all times that the person is a licensed certifier, and > > > > > (b) the required insurance that is professional indemnity insurance for at least 7 years after the person ceases to be a licensed certifier. > > > > Maximum penalty—20 penalty units. > > > (4) For the purposes of this clause, a person is taken to be covered by the required insurance if the person pays amounts specified by Transport for NSW, at any times that Transport for NSW may direct, towards insurance cover obtained by Transport for NSW on behalf of the person. > > > (5) A licensed certifier’s licence is suspended— > > > > > (a) at any time that the licensed certifier is not covered by the required insurance, and > > > > > (b) if the licensed certifier is relying on the insurance obtained by Transport for NSW, at any time that there is an amount owing after the date payment is required under subclause (4).