(1) The owner of a road vehicle used to transport placard loads may make an application under section 175 to use the vehicle even if the vehicle is not covered by a policy of insurance or other form of indemnity mentioned in the Act, section 36 (1) (b) (Offence—vehicle not insured or approved—owner).
(2) A prime contractor responsible for the condition of a vehicle used to transport placard loads may make an application in accordance with section 175 to use the vehicle even if the vehicle is not covered by a policy of insurance or other form of indemnity mentioned in the Act, section 37 (1) (b) (Offence—vehicle not insured or approved—prime contractor).
(3) If the competent authority is satisfied that the owner or prime contractor is adequately capable of self-insurance for the purposes of the Act, section 36 (1) (b) or section 37 (1) (b), the competent authority may give written approval for the use of the vehicle.
(4) An approval may be given—
(a) for a single use or for a period not longer than 5 years; and
(b)
subject to any other condition.