New South Wales Consolidated Regulations

HEALTH CARE LIABILITY REGULATION 2007 - REG 5

5 Exemption for limited period after cessation of insurer’s business

(1) If a medical practitioner ceases to be covered by approved professional indemnity insurance as a consequence of the cessation of business of the insurer who provided the insurance, the medical practitioner is, in accordance with section 19 (4) (b) of the Act, exempt from the approved insurance requirement but only for a period of no more than 3 months (or such longer period as the Minister may specify by order published in the Gazette) immediately following the date on which the medical practitioner ceased to be so covered.

(2) The reference in subclause (1) to the cessation of business of an insurer includes a reference to the appointment of a liquidator, administrator or controller (within the meaning of the Corporations Act 2001 of the Commonwealth) in respect of the insurer’s business.