(1)

For paragraph 47 (2) (b) of the Act, the holder of a launch permit, overseas launch certificate or section 43 authorisation covering a launch or return must show direct financial responsibility for the launch or return in accordance with this regulation.

(2) The holder must provide:

(a)

evidence that the holder has net assets sufficient to cover any liability that the holder might incur for any damage to third parties caused by the launch or return concerned, or other evidence that shows that the holder is able to comply with any obligation of the holder to pay compensation for such damage; and

(b)

any information that the Minister asks for in writing for the purpose of showing that the holder is able to comply with any obligation of the holder to pay compensation for such damage.

(3) However, if the holder is incorporated by or under a law of the Commonwealth or of a State or Territory and is a subsidiary of, or is under the direction or financial control of, another body having legal personality, the holder:
(a) must provide:

(i)

evidence that the holder has net assets sufficient to cover any liability that the holder might incur for any damage to third parties caused by the launch or return concerned, or other evidence that shows that the holder is able to comply with any obligation of the holder to pay compensation for such damage; and

(ii)

any information that the Minister asks for in writing for the purpose of showing that the holder is able to comply with any obligation of the holder to pay compensation for such damage; or

(b) must provide:

(i)

evidence that the holder and the other body together have net assets sufficient to cover any liability that the holder might incur for such damage, or other evidence that shows that the holder is able to comply with any obligation of the holder to pay compensation for such damage; and

(ii)

a guarantee by the other body that, to the extent that any part of any obligation of the holder to pay compensation for such damage is to be covered by the other body's net assets, it will meet that part of the obligation; or

(c) must provide:

(i)

evidence that the other body has net assets sufficient to cover any liability that the holder might incur for such damage, or other evidence that shows that the holder is able to comply with any obligation of the holder to pay compensation for such damage; and

(ii)

a guarantee by the other body that it will meet any obligation of the holder to pay compensation for such damage.