Amount below which liability cannot be limited
28 Amount below which liability cannot be limited
The amount of any limitation under a scheme affecting a liability for damages arising from a single claim (including a claim by a person who has 2 or more causes of action arising out of a single event) will be such amount (but not less than $500 000) as is determined for the purposes of the scheme by the Council and specified in the scheme.
In making a determination, the Council must have regard to—
the number and amounts of claims made against persons within the occupational association concerned; and
the need to adequately protect consumers.
A Council determination applies only to a cause of action founded on an act or omission arising after the determination takes effect.
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