This instrument is the Space (Launches and Returns) (Insurance) Rules 2019.

(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. The whole of this instrument	At the same time as the Space Activities Amendment (Launches and Returns) Act 2018 commences.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3 Authority

This instrument is made under the Space (Launches and Returns) Act 2018.

4 Definitions

In this instrument:

Act means the Space (Launches and Returns) Act 2018.

Part 2—Insurance/financial requirements

5 Satisfying the insurance/financial requirements—when a holder has shown direct financial responsibility

(1) This section applies for the purposes of paragraph 47(2)(b) of the Act in relation to the holder of an Australian launch permit, an Australian high power rocket permit or a return authorisation, covering a launch or return.

(2) The holder has 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) of the Act for the launch or return (the subsection 48(4) amount) if the holder has given to the Minister:

(a) evidence that the holder:

(i) has a sufficient amount of available assets; or

(ii) is otherwise able to meet any liability that the holder might incur under the Act to pay compensation for any damage to third parties that the launch or return causes; and

(b) any additional information that the Minister asks for, in writing, for the purpose of showing that the holder has assets of the kind mentioned in subparagraph (a)(i) or is otherwise able to meet the liabilities mentioned in subparagraph (a)(ii).

(3) For the purposes of subparagraph (2)(a)(i):

(a) assets are of a sufficient amount if they have a value that is at least equal to the subsection 48(4) amount; and

(b) assets are available assets if:

(i) the holder could use them to meet any liability that the holder might incur under the Act to pay compensation for any damage to third parties that the launch or return causes; and

(ii) for assets held wholly or partly by another person or body—the person or body will make them available to the holder if required.

6 Specified minimum amount of insurance

For the purposes of paragraph 48(4)(a) of the Act, the amount for a launch or return mentioned in column 1 of an item in the following table is the amount mentioned in column 2 of the item.

Specified amounts
Item	Column 1 Launch or return	Column 2 Amount ($)
1	Launch or return authorised by an Australian launch permit	100 million
2	Launch authorised by an Australian high power rocket permit	100 million
3	Launch authorised by an overseas payload permit	0
4	Return authorised by a return authorisation, if: (a) the return is to a place or area outside Australia; and (b) the returned space object is carried as a payload by another space object that does not require a return authorisation	0
5	Return authorised by a return authorisation, other than a return to which item 4 applies	100 million

Note: The matters to which the Minister must have regard in deciding whether to issue an authorisation certificate covering specified conduct include whether the conduct would represent an unsatisfactory risk of liability to the Commonwealth if insurance is not held to cover the applicant or the Commonwealth, or both—see paragraph 119(c) of the Space (Launches and Returns) (General) Rules 2019.

7 Method for determining minimum amount of insurance

For the purposes of paragraph 48(4)(b) of the Act, the method for determining an amount is the methodology set out in the document called Maximum Probable Loss Methodology, published on the Department’s website, as existing from time to time.

Part 3—Miscellaneous

8 Delegation

(1) The Minister may, by writing, delegate any of the Minister’s powers or functions under this instrument to:

(a) the Secretary of the Department; or

(b) the Head of the Australian Space Agency; or

(2) In doing anything under a delegation under this section, the delegate must comply with any directions of the Minister.