Conflict with tac_lite module

The module seems to has a conflict with tac_lite version: 7.x-1.2.

Before installing the module and after disabling it, the tac_lite works fine. However, when the module is enabling and the trying to access: /user/xxxx/edit/tac_lite, where xxxx is the user id, it returns the following error:

Recoverable fatal error: Argument 1 passed to password_policy_password_element_alter() must be of the type array, null given, called in /home3/account/public_html/sites/all/modules/password_policy/password_policy.module on line 261 and defined in password_policy_password_element_alter() (line 201 of /home3/account/public_html/sites/all/modules/password_policy/password_policy.module).
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