Victorian Consolidated Legislation

Victorian Managed Insurance Authority Act 1996 - SECT 25A

Provision of insurance and indemnities for other persons or bodies

25A. Provision of insurance and indemnities for other persons or bodies



(1) The Minister may direct the Authority to provide insurance or an indemnity
to-

   (a)  a person or body specified in the direction; or

   (b)  persons or bodies in a class of person or body specified in the
        direction.

(2) The Minister must consult with the Authority before giving a direction
under this section.

(3) A direction under this section must be in writing and may specify-

   (a)  the risks to be insured or indemnified;

   (b)  the maximum value of liability to be covered;

   (c)  the term (not exceeding one year) for which the insurance or indemnity
        is to be provided;

   (d)  any other terms and conditions for the provision of the insurance or
        indemnity that the Minister thinks fit.

(4) Subject to subsection (6), the Authority must comply with a direction
under this section.

(5) The Authority may by notice in writing require any person or body to whom
or which insurance or an indemnity is to be provided under this section to pay
a premium for that insurance or indemnity.

(6) The Authority may refuse to insure or indemnify a person or body under
this section if the relevant premium is not paid within the time (being not
less than 30 days) specified in the notice under subsection (5).

(7) As soon as possible after giving a direction under this section to the
Authority, the Minister must cause a copy of the direction to be published in
the Government Gazette.

(8) The Authority must include in its annual report under the
Financial Management Act 1994 a copy of each direction given to it by the
Minister under this section during the year to which the report relates.