The Institute's limitation of liability schemes were gazetted in Queensland and the Australian Capital Territory on 25 January 2008 and will commence on 1 February 2008. 
 
Who can participate in the scheme? 
Participating members of the Institute scheme are all Certficate of Public Practice holders, affiliate members and practice entity members, except for holders of financial services licenses. 
 
Disclosure 
Members in these states must include a disclosure statement in correspondence with clients from 1 February 2008.  
 
If this statement does not appear on their business stationery, members in Queensland will not benefit from the liability cap at all. Meanwhile, if members in the Australian Capital Territory fail to include the statement, they may benefit from the cap but they could be fined.  
 
The form of disclosure prescribed by regulation in Queensland and the Australian Capital Territory is as follows:

• Liability limited by a scheme approved under Professional Standards Legislation

• *other than for the acts or omissions of financial services licensees.

• Further details regarding the disclosure statements
• More details regarding the schemes generally