56EImmunity from liability for last resort providers

56E Immunity from liability for last resort providers

56E Immunity from liability for last resort providers

(1) A last resort provider assumes no financial or other liability of a failed licensee that accrued before the transfer date.

(2) A last resort provider is not liable for loss, damage or injury arising from the following, except to the extent to which the loss, damage or injury arises as a consequence of the negligence of the last resort provider—

(a) an act or omission of the failed licensee, or

(b) the condition of the essential infrastructure.

s 56E: Ins 2021 No 26, Sch 1[20].