BUILDING ACT 2004 - SECT 99 Approval criteria for schemes

BUILDING ACT 2004 - SECT 99

    (1)     The Minister may determine requirements (the approval criteria ) for this Act with which a fidelity fund scheme must comply to be an approved scheme.

    (2)     The approval criteria must include requirements in relation to—

        (a)     the management of the fidelity fund scheme in accordance with the trust deed; and

        (b)     qualifications or suitability for appointment as a trustee of the scheme; and

        (c)     the powers and duties of the trustees; and

        (d)     the financial management of the scheme; and

        (e)     the building work for which a fidelity certificate may be issued, or must not be issued, under the scheme; and

        (f)     the people who can and cannot make claims under a fidelity certificate; and

        (g)     applications for claims under fidelity certificates issued under the scheme; and

        (h)     dealing with claims under the scheme; and

              (i)     complying with the prudential standards.

    (3)     The approval criteria may apply, adopt or incorporate a law or instrument, or a provision of a law or instrument, as in force from time to time.

Note 1     The text of an applied, adopted or incorporated law or instrument, whether applied as in force from time to time or as at a particular time, is taken to be a notifiable instrument if the operation of the Legislation Act

, s 47 (5) or (6) is not disapplied (see  s 47 (7)).

Note 2     A notifiable instrument must be notified under the Legislation Act

.

    (4)     A determination is a disallowable instrument.

Note     A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act

.