moved for leave to introduce Bill C-415, an act to amend the Nuclear Liability Act.
Mr. Speaker, the Nuclear Liability Act, as it stands, now calls for operators to carry a minimum of $75 million in liability insurance. If damages beyond that amount occur, the federal government must cover the costs.
The amount of coverage is far below international standards.In its report dated June 2002 entitled “International Aspects of Nuclear Reactor Safety”, the Standing Committee of the Senate on Energy recommends:
--the government take immediate action to amend the Nuclear Liability Act, and increase and maintain the mandatory operator held insurance coverage...at an amount in line with the Paris and Vienna Conventions “over 600 million [Canadian] dollars.
The revised Paris convention would require that the minimum liability amount for operators be 700 million Euro dollars.
Therefore, in line with the Senate committees recommendation, international standards and in recognition of the unique risk associated with the nuclear industry, the bill seeks to amend the act to $1.1 billion Canadian.
(Motions deemed adopted, bill read the first time and printed)