Insurance against third party risk

(1) The promoter of every Ropeway shall obtain a policy of insurance in respect of the Ropeway from an authorised insurer recognised under the relevant insurance law. (2) The policy of insurance obtained by the promoter under sub-section (1) shall cover the insurance of the person travelling in the Ropeway including those persons employed by the promoter in connection with the operation of such Ropeway against any liability which may be incurred by him in respect of the death of or bodily injury to any person including of the goods or his authorised representatives carried in the Ropeway or damage to any property of third party caused by or arising out of the use of Ropeway.