Public liability insurance
9. (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 Company’s railway of not less than £1 million.
(2) (a) The Company shall not work the Company’s 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 by the Company who are required to effect and maintain the policy.