Seanad debates
Tuesday, 7 October 2003
Order of Business: Motion. - Oil Pollution of the Sea (Civil Liability and Compensation) (Amendment) Bill 2003: Second Stage.
The process was given added impetus in November 2002 when the Bahamas registered tanker Prestige, laden with 77,000 tonnes of heavy fuel oil, broke in two off the coast of Galicia in Spain, spilling an unknown but substantial quantity of its cargo. While the examination has been underway at the IOPCF since the establishment of a working group in April 2000, it was considered that action needed to be taken with regard to compensation levels without awaiting the completion of the working group's business. The total amount of compensation of 135 million SDR fixed in the 1992 fund convention was considered unacceptably low and it was decided to increase the compensation levels by about 50% to a total of 203 million SDR. The increases, which are to apply internationally, are to take effect on 1 November 2003. The Bill gives effect to these measures and needs to be enacted by that date.
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