PROFESSIONAL SURVEYORS OCCUPATIONAL

ASSOCIATION SCHEME

PREAMBLE

A. The Professional Surveyors Occupational Association Inc (PSOA) is an occupational association.

B. PSOA has made an application to the Professional Standards Council, appointed under the Professional Standards Act 1994 (NSW) (the Act), for a scheme under the Act.

C. The scheme is prepared by PSOA for the purposes of limiting occupational liability to the extent to which such liability may be limited under the Act.

D. The scheme propounded by PSOA is to apply to all members of the PSOA and Other Persons as defined in ss18, 19, 20 and 20A of the Act.

E. PSOA has furnished the Council with a detailed list of the risk management strategies intended to be implemented in respect of its members and the means by which those strategies are intended to be implemented.

F. The scheme is intended to commence on Monday 12 November 2007 and remain in force for five (5) years from its commencement, unless prior to that time it is revoked, its operation ceases, or it is extended pursuant to s32 of the Act.

THE PSOA (NSW) SCHEME

1. Occupational Association

1.1 The PSOA Scheme (the Scheme) is a scheme under the Professional Standards Act 1994 (NSW) (the Act) prepared by the Professional Surveyors Occupational Association Inc (PSOA) whose business address is Level 6, 321 Pitt Street Sydney NSW.

2. Persons to whom the scheme applies

2.1 The scheme applies to all members of the PSOA who or which comply with the requirements of the PSOA and the insurance requirements set out in 3.1.

2.2 The scheme applies to persons by virtue of sections 18, 19, 20 and 20A of the Act.

2.3 The scheme also applies to all persons to whom the scheme applied under clause 2.1 or 2.2 at the time of any act or omission giving rise to occupational liability.

3. Limitation of Liability

3.1 If a person who was at the time of the act or omission giving rise to occupational liability a category A member or a category B member or a category C member against whom a proceeding relating to occupational liability is brought is able to satisfy the court that such member has the benefit of an insurance policy or policies:

(a) of a kind which complies with the standards determined by PSOA,

(b) insuring such member against that occupational liability, and

(c) under which the amount payable in respect of the occupational liability relating to the cause of action (including any amount payable by way of excess under or in relation to the policy) is not less than the amount of the monetary ceiling (maximum amount of liability) specified in clause 3.2 hereof as applying to such members at the time at which the act or omission giving rise to the cause of action occurred, the person is not liable in damages in relation to that cause of action above the amount so specified.

3.2 The monetary ceiling (maximum amount of liability) required for the purposes of limitation of liability under this scheme at the time at which the act or omission giving rise to the cause of action occurred is to be determined according to the following table:

3.3 This scheme limits the occupational liability in respect of a cause of action founded on an act or omission occurring during the period when the scheme was in force of any person to whom the scheme applied at the time the act or omission occurred.

3.4 Relevant definitions for the purpose of this clause are as follows:

“total annual fee income” means the amount charged during a financial year for services provided by or on behalf of

(a) a body corporate who is a member of PSOA

(b) a partnership some of whose members are members of PSOA to whom the scheme applies

(c) a sole trader who is a member of PSOA to whom this scheme applies.

“financial year” means a financial accounting period ending 30

June.

“category A member” means a person who is a member of PSOA to whom the scheme applies and who is:

(a) a body corporate whose total annual fee income for the most recent financial year is less than $2,500,000.00 :

(b) an individual or body corporate who is a member of a partnership, where the total annual fee income of such partnership for the most recent financial year is less than $2,500,000.00; and

(c) a sole trader whose total annual fee income for the most recent financial year is less than $2,500,000.00.

“category B member” means a person who is a member of PSOA to whom the scheme applies and who is:

(a) a body corporate whose total annual fee income for the most recent financial year is $2,500,000.00 or more, but is less than $5,000,000:

(b) an individual or body corporate who is a member of a partnership , where the total annual fee income of such partnership for the most recent financial year is $2,500,000.00 or more, but less than $5,000,000; and

(c) a sole trader whose total annual fee income for the most recent financial year is $2,500,000.00 or more, but less than $5,000,000.

“category C member” means a person who is a member of PSOA to whom the scheme applies and who is:

(a) a body corporate whose total annual fee income for the most recent financial year is $5,000,000 million or more:

(b) an individual or body corporate who is a member of a partnership, where the total annual fee income of such partnership for the most recent financial year is $5,000,000 or more; and

(c) a sole trader whose total annual fee income for the most recent financial year is $5,000,000 or more.

4 Conferral of discretionary authority

4.1 Pursuant to s24 of the Act, this scheme confers on PSOA a discretionary authority to specify, on application of a member of PSOA to whom the scheme applies and in relation to that person, a higher monetary ceiling (maximum amount of liability) not exceeding $5 million, than would otherwise apply under the scheme in relation to the person either in all cases or in any specified case or class of case.

5 Duration

5.1 This scheme will be in force for a period of 5 years from the date of commencement.

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