The Australian laws are covered in the following link. Bonnet modifications are a 'Basic Modification Without Certification'. Provided the Bug Deflector is fitted correctly according to the 11 metre visibility requirements, it should comply with Australian Laws. The shape of some bonnets and the height of the driver should be taken into account. The material the Bug Deflector is made of is 'softer' than the bonnet materials and the Bug Deflector is shaped to guide any impact backwards.
Please check the link provided below for the details outlined in the National Code of Practice for the specific details outlined. You can make sure you have complied with this Code when fitting your Bug Deflector.
National Code of Practice for Light Vehicle Modifications - Section 4.1 Bonnet Modifications