Public liability insurance
11. –
(1) In this article–
“insurer” means any insurer or insurers authorised under the Insurance Companies Act 1982(1) to carry on in the United Kingdom insurance business of a relevant class or who has corresponding permission under the law of another member state of the European Economic Community;
“policy” means a public liability policy with an insurer providing maximum cover in respect of any one accident on or occasioned by the operation of the railway of not less than £2,000,000.
(2) (a) The Company shall not work the railway unless there is in force a policy in accordance with the provisions of this article.
(b)If the Company contravene the provisions of this article they shall be liable on summary conviction to a fine not exceeding the statutory maximum or, on conviction on indictment, to a fine.
(3) The adequacy of the cover provided by a policy maintained in accordance with this article shall be regularly reviewed and increased by the Company.