The objects of this Act are:
(a) to establish a system for the regulation of space activities carried on either from Australia or by Australian nationals outside Australia; and
(aa) to establish a system for the regulation of the launch of high power rockets in Australia; and
(b) to ensure that a reasonable balance is achieved between:
(i) the removal of barriers to participation in space activities and the encouragement of innovation and entrepreneurship in the space industry; and
(ii) the safety of space activities, and the risk of damage to persons or property as a result of space activities, regulated by this Act; and
(c) to implement certain of Australia's obligations under the UN Space Treaties.
Note: This Act does not limit the operation of other laws of the Commonwealth (except so far as the other laws are inconsistent with this Act): see section 105.