47Satisfying the insurance/financial requirements

47 Satisfying the insurance/financial requirements

(1) This Division sets out the insurance/financial requirements mentioned in Divisions 3, 4, 5 and 6. (2) The holder of an Australian launch permit, Australian high power rocket permit, overseas payload permit or return authorisation, covering a launch or return, satisfies the insurance/financial requirements for the launch or return if: (a) throughout the liability period for the launch or return, the insurance requirements in section 48 are satisfied; or (b) the holder has, in accordance with the rules, shown direct financial responsibility for the launch or return for an amount not less than the amount that would otherwise have been applicable under subsection 48(4) for the launch or return.