Part 1 Preliminary
1 Name of Regulation
This Regulation is the Professional Standards Regulation 1998.
2 Commencement
This Regulation commences on 22 May 1998.
3 Definitions
In this Regulation:annual fee means the annual fee referred to in section 53 (2) (b) of the Act.annual fee period, in relation to a scheme, means each period of 12 months beginning on the date on which the scheme commences and on each anniversary of that date.the Act means the Professional Standards Act 1994.
4 Notes
The explanatory note and table of contents do not form part of this Regulation.
Part 2 Fees and charges
5 Application fee for approval relating to occupational liability schemes
(1) An application by an occupational association for the approval of the Council of:(a) a scheme prepared under section 7 of the Act, ormust be accompanied by a fee of $5,000.(b) an amendment to, or the revocation of, such a scheme,(2) However, if the application is for the approval of the Council of a scheme prepared solely to replace a scheme that is to cease by effluxion of time to apply to the members of the relevant occupational association (and the application is made before the scheme so ceases to apply), the fee that must accompany the application is $2,000.(3) Subclause (2) applies whether or not the scheme for which approval is sought differs in any way from the scheme that it is intended to replace.
6 Amount of annual fee
(1) The annual fee to be paid to the Council by an occupational association any of whose members are subject to a scheme in force under the Act (being a scheme that applies to all persons within the association or to a specified class or classes of persons within the association) is $35 for each person to whom the scheme applies who is a member of the association at any time during the relevant annual fee period.(2) (Repealed)cll 6: Am 21.9.2001; 26.4.2002.
7 Payment of annual fee
(1) The annual fee must be paid not later than at the end of the first quarter of the annual fee period concerned.(2) If for any reason a scheme becomes applicable to an additional member of the occupational association during the annual fee period, the payment under clause 6 (1) must be made in respect of the additional member at the end of the quarter in which the scheme became applicable to that member.(3) (Repealed)cll 7: Am 21.9.2001; 26.4.2002.
8 Interest on overdue annual fee
If any amount of the annual fee (including any payment required under clause 7 (2)) is not paid within 30 days after it is due, simple interest at the rate of 0.05% per day is payable to the Council on the outstanding balance until that balance is paid.
9 Remission of amounts payable
The Council may, if it considers that there are special reasons for doing so in a particular case, remit the whole or any part of any or all of the following:(a) the fee payable under clause 5 (1) (b) for an application for the approval of the Council of an amendment to, or the revocation of, a scheme,(a1) the annual fee payable under clause 6,(b) any interest payable under clause 8.cl 9: Am 4.2.2000.
Part 3 Miscellaneous
10 Repeal
(1) The Professional Standards Regulation 1995 is repealed.(2) Any act, matter or thing that, immediately before the repeal of the Professional Standards Regulation 1995, had effect under (or was done for the purposes of) that Regulation continues to have effect under (or is taken to have been done for the purposes of) this Regulation.
11 Transitional
(1) Clause 6 (1) does not apply to or in respect of an occupational association any of whose members are subject to:(a) a scheme in force under the Act on the commencement of this Regulation, oruntil the first anniversary, after the commencement of this Regulation, of the date on which the scheme concerned commenced.(b) a scheme that comes into force under the Act as a result of an application made (under section 7 (2) or (3) of the Act) before the commencement of this Regulation,(2) Until that first anniversary, clause 5 (1) of the Professional Standards Regulation 1995, as in force immediately before the repeal of that Regulation, applies to and in respect of the occupational association concerned.(3) However, clause (1) does apply, on and from the commencement of this regulation, in respect of any additional member of the occupational association to which the relevant scheme becomes applicable (as referred to in clause 7).
12 Notification of limitation of liability
(1) For the purposes of section 33 (3) of the Act, the following form of statement is prescribed:“Liability limited by the [insert name of relevant Scheme approved of by the Council] Scheme, approved under the Professional Standards Act 1994 (NSW).”(2) The statement must be printed in a size not less than the face measurement of Times New Roman typeface in 8 point.cl 12: Ins 25.6.1999.