Document ID: chunk:federal_register_of_legislation:C2007A00132:clause:3_1284
Version: federal_register_of_legislation:C2007A00132
Segment Type: clause
Provision Reference: sch 3 cl 1284
Character Range: 133916–134547

1284  Insurance to be maintained by liquidators

 (1) A person who is registered as a liquidator, or as a liquidator of a specified body corporate, must maintain:
 (a) adequate and appropriate professional indemnity insurance; and
 (b) adequate and appropriate fidelity insurance;
for claims that may be made against the person in connection with externally‑administered bodies corporate.

 (2) If the registration of a person as a liquidator, or as a liquidator of a specified body corporate, came into force before the commencement of this subsection, subsection (1) does not apply to the person at any time before 1 July 2008.