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Maritime Transport (Offshore Installations) Amendment Bill

Introduced on June 20. The Bill increases the requirements on owners of offshore oil and gas installations to hold insurance or other financial security in relation to their liability for clean-up and compensation resulting from an oil spill. It introduces a graduated scale based on an assessment of risk rising to $1.2b at the high end of the scale. First reading on June 27 with all parties in support though National MPs indicated the highest level of liability was more than they envisaged when in govt. Bill sent to the Transport and Infrastructure Committee to be reported back by Oct 29. Report back extended to Nov 18.Reported back on Nov 18 with minor amendments including clarification around insurers liability and limitations on that liability.Second reading Dec 10, committee stage Dec 11 and third reading Dec 12 supported by all parties. Maritime Transport (Offshore Installations) Amendment Bill