The Principal Act is amended by substituting for section 56 the following:

"56

(1) A person (in this subsection referred to as the user) shall not use in a public place a mechanically propelled vehicle unless -

(a) either a vehicle insurer or an exempted person would be liable for injury caused by the negligent use of the vehicle, by him or her at that time, or

(b) there is in force at that time an approved policy of insurance whereby the user or some other person who would be liable for injury caused by the negligent use of the vehicle at that time by the user, is insured against all sums, subject to subsection (2) of this section, without limit, which the user or his or her personal representative or such other person or his or her personal representative becomes liable to pay to any person (exclusive of the excepted persons) by way of damages or costs on account of injury to person or property caused by the negligent use of the vehicle at that time by the user.

(2) The insurance required by this section may be subject to the following limitations and the following exception or any of them -

(a) it may in so far as it relates to -

(i) injury to a person, be limited to such sum as the Minister specifies in regulations,

(ii) injury to property, be limited to the sum of €200,000,