Dermot Ahern (Louth, Fianna Fail)

I am pleased that this Bill has been introduced in the Seanad and I welcome the opportunity to address the House on this important subject. I look forward to hearing Senators' contributions. This is a short but important and extremely urgent Bill which needs to be viewed in the context of the constantly developing situation at EU and international level regarding regulatory matters aimed at preventing pollution by ships and providing adequate compensation for victims of pollution incidents.

The Bill provides for the limits of compensation payable to victims of pollution resulting from spills of persistent oil from tankers to be increased by about 50%. I propose to introduce amendments on Committee Stage which will have the effect of further increasing, almost fourfold, the amount of compensation payable. Compensation is payable in accordance with the International Convention on Civil Liability for Oil Pollution Damage, 1992 – the liability convention – and the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, 1992 – the fund convention.