Document ID: chunk:federal_register_of_legislation:C2024C00623:section:3
Version: federal_register_of_legislation:C2024C00623
Segment Type: section
Provision Reference: s 3
Character Range: 8940–10120

3  Objects of this Act and the Midwife Professional Indemnity (Run‑off Cover Support Payment) Act 2010
 (1) An object of this Act is to contribute towards the availability of professional midwife services in Australia by providing Commonwealth assistance to support access by eligible midwives to arrangements that indemnify them for claims arising in relation to their practice of the profession of midwifery.
 (2) The Commonwealth provides that assistance under this Act by:
 (a) meeting part of the costs of large settlements or awards paid by eligible insurers that indemnify eligible midwives; and
 (b) meeting the amounts by which settlements and awards exceed insurance contract limits, if those contract limits meet the Commonwealth's threshold requirements; and
 (c) meeting the amounts payable in relation to certain claims against eligible midwives who are no longer in private practice.
 (3) Another object of this Act (together with the Midwife Professional Indemnity (Run‑off Cover Support Payment) Act 2010) is to allow the Commonwealth to recover the costs of providing the assistance referred to in paragraph (2)(c) by requiring payments from eligible insurers.