Authority may determine conditions
25B Authority may determine conditions
Subject to subsection (3), the Authority may, by agreement with departments and participating bodies and other persons or bodies to which insurance or an indemnity is to be provided by the Authority, determine deductible and maximum loss conditions to be included in insurance contracts or indemnities under this Act.
The amounts specified in deductible and maximum loss conditions may vary for different risks or different categories of risks.
The Minister may direct the Authority in writing in respect of levels of deductibles and maximum losses to apply to—
insurance contracts or indemnities generally; or
a specified risk or category of risk in an insurance contract entered into with, or an indemnity provided to, a specified department or participating body or other person or body.
S. 25C inserted by No. 73/2005 s. 4(Sch. 2 item 5.1).
This Act’s bill:Second reading speech
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