Investment obstacle removed

1 February 2003

Canada's House of Commons gave final approval to legislation that will make it easier for private companies to secure financing for investment in nuclear facilities.

Legislators have approved the amendment to the Nuclear Safety & Control Act (NSCA) but the bill must still be considered in the Senate. However, the government-dominated upper house is not expected to impede its progress.

The NSCA holds any company or person who has an interest in a nuclear facility, not just the operator, responsible for any contamination that may occur. That was seen as a disincentive for any bank or lending institution considering a loan to a nuclear operator. The new law will hold only the operators, property owners and managers responsible for clean-ups.

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