(1) Subject to subsection (2), the liability referred to in section 3 of the proprietor of any hotel to any one guest shall not exceed $250 in respect of any one article or $500 in the aggregate except where—
(a) the property was stolen, lost or damaged through the default, neglect or wilful act of the proprietor or his or her servants; or
(b) the property was deposited by or on behalf of the guest expressly for safe custody with the proprietor or some servant of his or her authorised or held out to be authorised for the purpose and if so required by the proprietor or that servant in a container or safe fastened, sealed or locked by the depositor.
(2) The proprietor of an hotel shall not be entitled to the protection of subsection (1) unless at the time when the property in question was brought into the hotel a copy of the notice set out in the Schedule printed in plain type was conspicuously displayed in a place where it could conveniently be read by his or her guests at or near the reception desk or at or near the main entrance to the hotel.
(3) The proprietor of a hotel may by written notice or special agreement limit his or her liability for loss or damage to the goods of any guest where he or she is undertaking or rendering any service in relation to such goods but, save as aforesaid, may not contract out of the liability imposed by this Act.