14Vessels: insurance requirements
(1)The Authority may from time to time designate categories of vessels to which this section is to apply.
(2)The owner or master of a vessel to which this section applies shall not keep, let for hire or use the vessel in the navigation area or on adjacent waters unless there is in force in relation to the vessel a policy of insurance complying with the requirements of Schedule 3.
(3)The requirements of subsection (2) do not apply in relation to a vessel to the extent that the vessel is exempted by the Authority from those requirements.