Victorian Numbered Acts

JUSTICE LEGISLATION (FURTHER AMENDMENT) ACT 2006 (NO 79 OF 2006) - SECT 46

    (1)     In section 4 of the Professional Standards Act 2003 —

        (a)     after the definition of "business assets" insert —

' "costs" includes fees, charges, disbursements and expenses;';

        (b)     for the definition of "damages" substitute —

' "damages" means—

        (a)     damages awarded in respect of a claim or counter-claim or claim by way of set-off; or

        (b)     costs in or in relation to the proceedings ordered to be paid in connection with such an award (other than costs incurred in enforcing a judgment or incurred on an appeal made by a defendant); or

        (c)     any interest payable on the amount of those damages or costs;'.

    (2)     At the end of section 4 of the Professional Standards Act 2003 insert —

    "(2)     A reference in this Act to the amount payable under an insurance policy in respect of an occupational liability includes a reference to—

        (a)     defence costs payable in respect of a claim, or notification that may lead to a claim (other than reimbursement of the defendant for time spent in relation to the claim), but only if those costs are payable out of the one sum insured under the policy in respect of the occupational liability; and

        (b)     the amount payable under or in relation to the policy by way of excess.".