QLDIn ForceRegulation
South-East Queensland Water (Distribution and Retail Restructuring) Regulation 2021
sec.14Insurance premiums for certain liabilities of board members [CA, s 199B ]
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### sec.14 Insurance premiums for certain liabilities of board members [CA, s 199B ]
A distributor-retailer must not pay, or agree to pay, a premium for a contract insuring a person who is or has been a board member of the distributor-retailer against a liability (other than one for legal costs) arising out of—
conduct involving a wilful breach of duty to the distributor-retailer; or
a contravention of section 8 or 9 .
This section applies to a premium whether it is paid directly or through an interposed entity.
(sec.14-ssec.1) A distributor-retailer must not pay, or agree to pay, a premium for a contract insuring a person who is or has been a board member of the distributor-retailer against a liability (other than one for legal costs) arising out of— conduct involving a wilful breach of duty to the distributor-retailer; or a contravention of section 8 or 9 .
(sec.14-ssec.2) This section applies to a premium whether it is paid directly or through an interposed entity.
- (a) conduct involving a wilful breach of duty to the distributor-retailer; or
- (b) a contravention of section 8 or 9 .