Section 87 of the Constitution of Urabba Parks

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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)    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.

Enactment information

Status

Proposed

Commencement

Law not made

Entrenchments

Endnotes

Please see information about the endnotes and the abbreviation key

Legislation history
Statute or Instrument Number and year Assent Commencement Application, saving and transitional provisions
Constitution Adoption 2021 No. 1, 2021 11 Jan 2021 1 Feb 2021 (gaz 2021,p. 1)
Amendment history
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, 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.

See also

Notes

Judgments

Further reading

External links