Public Liability insurance10
1
In this article—
“insurer” means any insurer or insurers authorised under the InsuranceCompanies Act 1982 10 to carry on in the United Kingdom insurance businessof a relevant class or who has corresponding permission under the law ofanother member state of the European Economic Community;
“policy” means a public liability policy with an insurer providing maximumcover in respect of any one accident on or occasioned by the operationof the railway of not less than £1 million.
2
a
The Company shall not work the railway unless there is inforce a policy in accordance with the provisions of this article.
b
If the Company contravene the provisions of this article they shallbe liable on summary conviction to a fine not exceeding the statutorymaximum or, on conviction on indictment, to a fine.
3
The adequacy of the cover provided by a policy maintained inaccordance with this article shall be regularly reviewed by the Company.