(1) A third-party policy or a public vehicle policy is not required for a motor vehicle owned by the Territory, the Commonwealth or a Territory or Commonwealth authority.
(2) However, the Territory, the Commonwealth or a Territory or Commonwealth authority is, in relation to a motor vehicle for which a third-party policy or public vehicle policy is not in force, under the same liabilities, and has the same rights, as an authorised insurer would be under, or have, if the insurer had issued a third-party policy or public vehicle policy, as the case may be, for the vehicle.