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Natural Resources committee While the tribunal is being set up, not while it is being--
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee No, once it is established, the minister would not be able to pay any--
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee That's right.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee No, it would not be.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee Oh yes, but we're talking about the establishment of the tribunal, so this interim payment would only be made between the time that a declaration was made, saying, okay, stop the payments under insurance--
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee That's correct.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee I'm not saying that it's necessarily problematic. What I'm saying is that the rationale for us to have the 20% was to seek to maintain as much of the moneys as possible for distribution by the tribunal. The 20% was chosen as minimizing the payout before the tribunal was in place.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee The situation would be that these demands would be coming to the minister to pay out, as opposed to a tribunal that would be in place and would have the expertise to deal with payouts like this. Our view was that it would be best to try to minimize the amount of funds that was be
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee That's correct, and it would reduce the amount of funds available for the tribunal to pay out once it was in place.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee Well, I guess my last comment would be that it's always open to the government to provide additional payments outside of the scheme entirely, in the event of an incident.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee That is correct.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee The rationale for putting the 20% was to limit to 20% the amount of the $650 million fund that the minister could pay out before the tribunal was put in place. It's correct that of the $650 million, some of those funds would be private insurance and some would be federal moneys.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee Yes, we would.
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee Our interest was, in the event of a very serious accident, to rely very heavily on the tribunal to provide effective, efficient, and equitable compensation of victims. So we wanted to hold onto as much of the fund as possible for, actually, the claims determination by the tribuna
December 6th, 2007Committee meeting
Dave McCauley
Natural Resources committee The situation is that we explicitly indicated that damage relating to acts of terrorism would be covered under the legislation, because it was our view that these were things that the operator could take measures to preclude, whereas acts of war, and so on, were outside that scop
December 6th, 2007Committee meeting
Dave McCauley