New South Wales Bills New South Wales Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
Conveyancers Licensing Amendment
(Professional Indemnity Insurance) Bill
2000
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Amendment of Conveyancers Licensing Act 1995 No 57 2
Schedule 1 Amendments 3
I certify that this PUBLIC BILL, which originated in the LEGISLATIVE ASSEMBLY, has
finally passed the LEGISLATIVE COUNCIL and the LEGISLATIVE ASSEMBLY of NEW
SOUTH WALES.
Clerk of the Legislative Assembly.
Legislative Assembly,
Sydney, , 2000
New South Wales
Conveyancers Licensing Amendment
(Professional Indemnity Insurance) Bill
2000
Act No , 2000
An Act to amend the Conveyancers Licensing Act 1995 to make further provision
with respect to professional indemnity insurance for conveyancers; and for other
purposes.
I have examined this Bill, and find it to correspond in all respects with the Bill as
finally passed by both Houses.
Chairman of Committees of the Legislative Assembly.
Clause 1 Conveyancers Licensing Amendment (Professional Indemnity
Insurance) Bill 2000
The Legislature of New South Wales enacts:
1 Name of Act
This Act is the Conveyancers Licensing Amendment (Professional
Indemnity Insurance) Act 2000.
2 Commencement
This Act commences on a day or days to be appointed by
proclamation.
3 Amendment of Conveyancers Licensing Act 1995 No 57
The Conveyancers Licensing Act 1995 is amended as set out in
Schedule 1.
Page 2
Conveyancers Licensing Amendment (Professional Indemnity
Insurance) Bill 2000
Amendments Schedule 1
Schedule 1 Amendments
(Section 3)
[1] Section 8
Omit the section. Insert instead:
8 What constitutes approved policy of professional indemnity
insurance
(1) For the purposes of this Act, an approved policy of
professional indemnity insurance means a policy, or a policy
of a kind, that is approved by the Minister for the time being by
order published in the Gazette.
(2) An order under this section may provide that a policy is an
approved policy if the policy complies with either or both of
the following:
(a) the policy complies with the conditions set out in the
order,
(b) the policy is described in the order by reference to the
insurer and the number of the policy or is identified in
the order by other specified particulars.
(3) If an order under this section requires an approved policy to
comply with conditions set out in the order a policy ceases to
be an approved policy if it ceases to comply with those
conditions.
(4) An order under this section may:
(a) apply generally or be limited in its application by
reference to specified exceptions or factors, or
(b) apply differently according to different factors of a
specified kind.
(5) An order under this section takes effect:
(a) on the day it is published in the Gazette, or
Page 3
Conveyancers Licensing Amendment (Professional Indemnity
Insurance) Bill 2000
Schedule 1 Amendments
(b) on a later date specified in the order.
(6) An order under this section may contain provisions of a savings
or transitional nature consequent on the making of the order.
(7) If an order under this section takes effect during the term of a
licence, any policy in force in respect of the licensee
immediately before the order takes effect that is at that time an
approved policy of professional indemnity insurance:
(a) is taken to continue to be an approved policy of
professional indemnity insurance in relation to the
licensee until the expiry of the term of the licence, and
(b) is subject to the same conditions to which it was subject
immediately before the order took effect.
(8) Subsection (7) is subject to any express provision to the
contrary contained in the order.
[2] Section 12 Duration of licences
Omit section 12 (2) and (3).
[3] Schedule 2 Savings, transitional and other provisions
Omit "this Act." from clause 1 (1). Insert instead:
the following Acts:
this Act
Conveyancers Licensing Amendment (Professional Indemnity
Insurance) Act 2000
[4] Schedule 2, clause 1 (2)
Omit "commencement of this Act".
Insert instead "date of assent to the Act concerned".
Page 4
Conveyancers Licensing Amendment (Professional Indemnity
Insurance) Bill 2000
Amendments Schedule 1
[5] Schedule 2, Part 3
Insert after Part 2:
Part 3 Provisions consequent on enactment of
Conveyancers Licensing Amendment
(Professional Indemnity Insurance) Act 2000
22 Validation of licences granted before commencement of
amending Act
(1) The fact that a policy of professional indemnity insurance in
force in respect of a licensee or former licensee during the term
or any part of the term of the licence or former licence was not
an approved policy of professional indemnity insurance:
(a) is taken not to have invalidated the grant of the licence
or former licence, and
(b) is taken not to have resulted in the licence or former
licence being of no effect during that term or part of that
term.
(2) This clause applies only to a term or part of a term occurring
before the commencement of this clause.
[6] Dictionary
Omit the definition of approved policy of professional indemnity
insurance.
Insert instead:
approved policy of professional indemnity insurance has the
meaning given to it by section 8 (1).
Page 5
[Index] [Search] [Download] [Related Items] [Help]