Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if:
(a) the launch or return of a space object that causes damage covered by this Subdivision was authorised by an Australian launch permit; and
(b) the damage did not result from a breach of any of the conditions of the permit or of any relevant launch facility licence, from any conduct (whether by act or omission) that the responsible party or a related party engaged in with intent to cause the damage or from the gross negligence of the responsible party or a related party.
(2) This section also applies if:
(a) the launch of a space object that causes damage covered by this Subdivision was authorised by an overseas payload permit; and
(b) the damage did not result from a breach of any of the conditions of the permit, any conduct (whether by act or omission) that the responsible party or a related party engaged in with intent to cause the damage or from the gross negligence of the responsible party or a related party.
(3) The responsible 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 launch permit or overseas payload permit.
(4) If:
(a) the responsible party has paid compensation for the damage of an amount equal to the insured amount for the Australian launch permit or overseas payload permit; and
(b) apart from this section, the responsible 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 launch permit or overseas payload 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.
(5) The Consolidated Revenue Fund is appropriated for the purposes of payments by the Commonwealth under subsection (4).