(1) Section 6 is
amended by inserting in the appropriate alphabetical position the following
definition —
“
“jurisdictional limit” means
$500 000 and, on and after 1 January 2009, means $750 000;
”.
(2) Section 50(1)
is amended as follows:
(a) by
deleting “$250 000” in each place it occurs and in each place
inserting instead —
“ the jurisdictional limit ”;
(b) by
deleting “$125 000” in each place it occurs and in each place
inserting instead —
“ one half of the jurisdictional limit ”;
(c) in
paragraph (d) by deleting “the sum of”.
(3) Section 51(1)
is amended by deleting “$250 000” in each place it occurs and
in each place inserting instead —
“ the jurisdictional limit ”.
(4) Section 60 is
amended by deleting “$250 000” in each place it occurs and in
each place inserting instead —
“ the jurisdictional limit ”.