Part 4 — Board Powers and Elections Division 1 Board Powers
54 Insurance and investment
adequate and appropriate policies of insurance for the purpose of,
at a minimum, indemnifying the board and its employees and
school councils in respect of claims for
(a) damages for death or personal injury,
(b) damage to property, and
(c) damage to property owned by the board in respect of which
the board has an insurable interest
(i) that the board has agreed to insure, or
(ii) for which the board otherwise has or may have assumed
liability.
(2) A board may invest only in accordance with the regulations
made under subsection (3)(b).
(3) The Minister may make regulations
(a) governing the requirement of boards to
(i) acquire insurance, or
(ii) take part in schemes or arrangements to protect the
board and its teachers and other employees with respect
to loss or legal liability;
(b) respecting the investment of money for the purpose of
subsection (2).