75ELimit on amount of permit holder’s liability

75E Limit on amount of permit holder’s liability

(1) This section applies if: (a) the launch of a high power rocket that causes damage to which this Part applies was authorised by an Australian high power rocket permit; and (b) the damage did not result from a breach of any of the conditions of the permit, from any conduct (whether by act or omission) that the launch party or a related party engaged in with intent to cause the damage or from the negligence of the launch party or a related party. (2) The launch party is not liable to pay compensation for the damage to the extent that the amount of the compensation would exceed the insured amount for the Australian high power rocket permit. (3) If: (a) the launch party has paid compensation for the damage of an amount equal to the insured amount for the Australian high power rocket permit; and (b) apart from this section, the launch party would be liable to pay further compensation to Australian nationals for the damage of an amount (the excess amount) in excess of the insured amount for the Australian high power rocket permit; then the Commonwealth is liable to pay compensation to the Australian nationals for the damage of an amount equal to so much of the excess amount as does not exceed $3 billion. (4) The Consolidated Revenue Fund is appropriated for the purposes of payments by the Commonwealth under subsection (3).