moved for leave to introduce Bill C-289, an act to amend the Nuclear Liability Act.
Madam Speaker, in 1990 a study was done in Canada to estimate the cost of a nuclear accident. The study concluded that it could cost from hundreds of millions of dollars up to $11 billion. The current Nuclear Liability Act only obliges operators to buy $75 million worth of insurance coverage. The American equivalent is $7 billion. To fix that problem I have corrected the figure in the Nuclear Liability Act by the rise in the cost of living. I have also included Atomic Energy of Canada Ltd. as an operator which would be required to buy insurance, something which it is not required to do. I believe it is time the nuclear industry came into the 21st century.
(Motions deemed adopted, bill read the first time and printed.)