(1) The Safety Director must recognise a licence, certificate or other authority issued or made by the Commonwealth, another State or a Territory that—
(a) permits the holder to act in that jurisdiction as the master of—
(i) a recreational vessel; or
(ii) a recreational vessel of a type that is prescribed under regulation 31 ; and
(b) is not subject to any conditions relating to health or fitness—
as equivalent to the appropriate marine licence or licence endorsement.
(2) For the purposes of regulation 33, the Safety Director may recognise a licence, certificate or other authority issued or made by the Commonwealth, another State or a Territory, other than a licence, certificate or other authority referred to in subregulation (1), as being the equivalent of a marine licence or licence endorsement.