The gazettal of the professional standards legislation (PSL) liability limited scheme in the Northern Territory means that CPA Australia has schemes gazetted in all mainland states and territories.
The CPA Australia NT Professional Standards Scheme was gazetted as a regulation by the Northern Territory attorney-general on Wednesday 26 March.
The commencement date for this scheme is Monday 26 May 2008.
Public practice certificate and limited practice certificate holders automatically become members of that occupational scheme.
Members will benefit from the schemes by having their occupational liability capped under relevant state and commonwealth legislation.
While certificate holders have a 12 month transition period to adopt the PSL disclosure statement on business stationery, their liability will not be limited until they disclose that limited liability to their clients.
Further information
