(1) The following provisions of the Convention have the force of law as part of the law of the Commonwealth: Articles I to VI (inclusive), paragraphs 1, 8 and 9 of Article VII, Article VIII, paragraphs 1 and 3 of Article IX, Article XII bis (other than paragraph (b)), paragraph 1 of Article XI.
(2) For the purposes of paragraph 1 of Article VII of the Convention as so having the force of law, that paragraph shall be treated as requiring the owner of a ship referred to in that paragraph, being a ship registered in Australia, to maintain the insurance or other financial security referred to in that paragraph.