SHIPPING REGISTRATION ACT 1981 - SECT 61AM Compulsory insurance for death or long - term disability

SHIPPING REGISTRATION ACT 1981 - SECT 61AM

  (1)   The owner of a ship that is registered in the International Register must have a policy of insurance or indemnity that:

  (a)   insures or indemnifies the owner for any liability of the owner to pay compensation for the death or long - term disability suffered by a seafarer as a result of sickness or injury occurring while on board the ship; and

  (b)   provides a level of insurance or indemnity that is sufficient to cover the amount of compensation that is determined by the Minister under subsection   ( 2).

Civil penalty:   300 penalty units.

  (2)   The Minister must, by legislative instrument, determine the amount of compensation for the death or long - term disability suffered by a seafarer as a result of sickness or injury occurring while on board the ship.

  (3)   If:

  (a)   there is an ITF template agreement; and

  (b)   the ITF template agreement specifies an amount of compensation for the death or long - term disability of a seafarer, or a method for working that out;

then the amount of compensation determined by the Minister under subsection   ( 2) for the death or long - term disability of a seafarer must not be less than the amount of compensation specified in, or worked out under, the ITF template agreement for the death or long - term disability of the seafarer.

  (4)   If, after the Minister makes a determination under subsection   ( 2), the ITF template agreement changes, then as soon as is reasonably practicable after becoming aware of that:

  (a)   the Minister must, by legislative instrument, revoke the determination made under subsection   ( 2); and

  (b)   the Minister must make a new determination under subsection   ( 2).