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The new colonial movement: A new bill designed to encourage the establishment of private or public spaceports in the United Kingdom has now become law.
If you wish to read the entire law, you can download it here [pdf] My quick review suggests it deals only with the regulations and liability issues necessary to encourage the creation of spaceports, which is confirmed by the language in the press release above.
In other words, the UK punted. Initially there were suggestions this law would try to deal with the property right issues related to the Outer Space Treaty. I suspect that as they reviewed those issues, the government realized they couldn’t do much about them, without changing the treaty itself, and decided to focus on what they could change. This law is aimed at bringing spaceport business to the United Kingdom, and in that I hope it works.