Section 87 of the Constitution of Urabba Parks
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|Constitution of Urabba Parks|
|Chapters of the Constitution|
|Text of the Constitution|
|Commonwealth of Australia Constitution Act|
Section 87 of the Constitution of Urabba Parks provides for insurance for officers.
Compiled text (Section 87 - Insurance)
(1) Urabba Parks may obtain insurance in respect of an indemnified person incurred in relation to the powers, functions and duties that attach to the person as provided in that table other than a liability, other than one for legal costs, arising out of:
- (a) conduct involving wilful breach of duty in relation to:
- (i) Urabba Parks;
- (ii) an entity having foundation in Urabba Parks; or
- (iii) a related body corporate of Urabba Parks or an entity having foundation in Urabba Parks;
- (b) a contravention of sections 182 or 183 of the Corporations Act 2001 of the Parliament of the Commonwealth.
Relationship between indemnity and insurance
(2) A person who is entitled to an indemnity under an insurance policy is not entitled to indemnity from Urabba Parks, to the extent that the policy indemnifies the person.
Law not made
|Statute or Instrument||Number and year||Assent||Commencement||Application, saving and transitional provisions|
|Urabba Parks Proprietary Limited Constitution Statute 2021||No. 1, 2021||5 Mar 2021||5 Mar 2021 (gaz 2021,p. 1)|
|Provision affected||How affected|
Relevant notes from the explanatory memorandum
222. Subsection (1) provides that Urabba Parks may obtain insurance in respect of an indemnified person, except for cases involving wilful breach of duty in relation to an entity having foundation in Urabba Parks or a related body corporate, or a contravention of sections 182 or 183 of the Corporations Act 2001.
223. Subsection (2) also provides that indemnity from Urabba Parks is limited in the case of an indemnity being available under the insurance policy. The intention of this section is to clarify the powers of Urabba Parks in relation to the acquisition of insurance to cover any risks arising from the acts of an indemnified person.
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