Professional Standards Act 2004

For the purposes of a scheme, an insurance policy must be a policy, or a policy of a kind, which complies with standards determined by the occupational association whose members may be insured under such a policy, or a policy of such a kind.

While a scheme remains in force relating to its members, if an occupational association proposes to alter the standards previously determined by it in relation to an insurance policy or a kind of insurance policy, it must submit the proposal to the Council for approval.

The Council may approve, or refuse to approve, a proposal submitted to it under subsection (2). NoteThe Council may review the scheme under section 17 when the occupational association proposes less stringent insurance standards.

If the Council refuses to approve the proposal, the standards remain as previously determined by the occupational association.