On the question of insurance and liability, some Senators were critical of insurance companies. I hold no brief for them, but it is important to remember that all insurance companies have actuaries who determine the level of risk for the particular industry. The thinking is that if insurance companies were exposed to the level of risk prior to 11 September, the whole industry could be taken out with a repeat performance. This would result not only in the collapse worldwide of the aviation industry, but also the insurance industry. We might not appreciate that but we should at least acknowledge the thinking behind it. We must also acknowledge that the State's liability is limited to £9 billion, so it does not have an open cheque book.
Air Navigation and Transport (Indemnities) Bill, 2001: Committee and Remaining Stages.
Sections 1 to 5, inclusive, agreed to.
SECTION 6.
Question proposed: "That section 6 stand part of the Bill."
I concur with what Senator Caffrey said. There is a limit of £9 billion and I agree there is no open cheque book.
Question put and agreed to.
Sections 7 to 20, inclusive, agreed to.
Title agreed to.
Bill reported without amendment and received for final consideration.
Question proposed: "That the Bill do now pass."
I thank the Senators who contributed to the debate. I appreciate that the House is extremely busy and I am grateful that it dealt with this important legislation. I understand Members were burning the midnight oil last night and that is commendable. I appreciate the co-operation of the House in recognising the importance of this legislation. I thank the excellent officials who are present in the Chamber. They succeeded in putting this unworthy Minister of State in a position to deal with the Bill today.
I thank the Minister for his courtesy in dealing with this legislation. I thank his staff also who have had a difficult time putting all this legislation together coming up to Christmas. We all bear the burden and suffer accordingly, but the business has been well done. This is important legislation and I hope we will be able to dispense with it in the not too distant future.
I thank the Minister of State and his staff for the expeditious way in which they dealt with the Bill. As usual, the Minister was more than helpful in explaining the different aspects of the Bill with which some of us were not familiar. This is important legislation and merited all the effort put into dealing with it this evening.
I join my colleagues in thanking the Minister of State for the expeditious manner in which he piloted the legislation through the House. I thank his officials also. There is no doubt that this legislation will be regarded as one of the most significant legislative measures ever to come before the House. Other examples of emergency legislation brought before the Houses of the Oireachtas have been cited, but this legislation will stand out in terms of its significance. While it may have some flaws, which is the case with all legislation, it is significant and will ensure that our air navigation industry is sustained.
Acting Chairman
I join other Members of the House in thanking the Minister of State.
Question put and agreed to.