Seafarers Rehabilitation and Compensation Act 1992
97Fund to insure
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97 Fund to insure
(1) The Fund must on each day have a policy of insurance or indemnity from an authorised insurer for any amount of the Fund’s liability under this Act that exceeds the prescribed amount for a single event which results in an injury to one or more employees. (2) Before advising the Governor‑General about the making of a regulation prescribing an amount for this section, the Minister must consult the Fund and such organisations which represent employers or employees as the Minister thinks appropriate. (3) A failure to consult as required by subsection (2) does not affect the validity of a regulation prescribing an amount for the purposes of this section.