28—Amount below which liability cannot be limited
(1) The amount of any
limitation under a scheme affecting a liability for damages arising from a
single claim (including a claim by a person who has 2 or more causes of action
arising out of a single event) will be such amount (but not less than $500
000) as is determined for the purposes of the scheme by the Council and
specified in the scheme.
(2) In making a
determination, the Council must have regard to—
(a) the
number and amounts of claims made against persons within the occupational
association concerned; and
(b) the
need to adequately protect consumers.
(3) A Council
determination applies only to a cause of action founded on an act or omission
arising after the determination takes effect.