Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Marine Insurance Act 1909 does not apply to a contract of marine insurance made in respect of a pleasure craft unless the contract is made in connection with the pleasure craft's capacity as cargo.
(2) For the purposes of this section, a pleasure craft is a ship that is:
(a) used or intended to be used:
(i) wholly for recreational activities, sporting activities, or both; and
(ii) otherwise than for reward; and
(b) legally and beneficially owned by one or more individuals; and
(c) not declared by the regulations to be exempt from this subsection.
(3) For the purposes of paragraph (2)(a), any minor, infrequent and irregular use of a ship for activities other than:
(a) recreational activities; or
(b) sporting activities;
is to be ignored.
(4) In this section:
"contract of marine insurance" has the same meaning as in the Marine Insurance Act 1909 .