Victorian Numbered Acts Victorian Numbered Acts(1) For section 25(1)(a)(ii) of the Professional Standards Act 2003 substitute —
"(ii) under which the amount payable in respect of that occupational liability is not less than an amount (the limitation amount ), being a reasonable charge for the services provided by the person or which the person failed to provide and to which the cause of action relates, multiplied by the multiple specified in the scheme in relation to the class of person and the kind of work to which the cause of action relates; or".
(2) For section 25(1)(c)(ii) of the Professional Standards Act 2003 substitute —
"(ii) the net current market value of the assets and the amount payable under the policy in respect of that occupational liability, if combined, would total an amount that is not less than the limitation amount—".